Photo Release

December 12, 2022

Discussion on RCEP resumes: Sen. Imee Marcos presides over the meeting of the Committtee on Foreign Relations Monday, December 12, 2022 on the proposed ratification of the Regional Comprehensive Economic Partnership (RCEP) by the Senate. Marcos quizzed heads of government agencies, including Trade Sec. Alfredo Pascual, on the provisions of the RCEP and its possible impacts on the Philippines' agriculture sector and micro, small and medium enterprises (MSMEs). She also inquired about the preparedness of the government in enforcing the trade deal. Noting "vague" provisions, the committee chairperson asked the Department of Trade and Industry (DTI), study groups, and other government agencies for "more time-bound projections on what RCEP would bring to the Philippines." The RCEP is a free trade agreement among countries in the Association of the Southeast Asian Nations (ASEAN), along with Australia, China, Japan, Korea, and New Zealand, which seeks to, among others, liberalize trade in goods and services by eliminating tariff and non-tariff barriers. (Bibo Nueva España/Senate PRIB)

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