Trade Secretary Ramon M. Lopez said the early signatories to the RCEP are starting to derive benefits from their participation, and warned that the Philippines risks being left behind if it further delays joining the trade deal. READ:
In a virtual conference attended by Senator Cynthia Villar, who chairs the chamber’s Committee on Agriculture and Food,
The International Trade Forum hosted by the DTI, sought to assess “The Importance of Philippine Participation in the Regional Comprehensive Economic Partnership Agreement” and arrayed a panel of government officials, academics, and the legislature. In particular, participants sought to assess the trade deal’s impact on the agricultural sector.
Delayed participation to the agreement can also affect how businesses view the openness of the Philippine economy, with Mr. Lopez warning of the potential loss of trade, investment, and other economic opportunities from shunning RCEP.