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Philippine officials expect more opportunities as RCEP takes effect

Tan KW
Publish date: Sun, 04 Jun 2023, 08:25 PM
Tan KW
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MANILA, June 4 : The Regional Comprehensive Economic Partnership (RCEP) enters into force for the Philippines on Friday, officially allowing the South-East Asian country to participate in the world's biggest free trade agreement.

Alfredo Pascual, Philippine secretary of Trade and Industry, said the South-East Asian country will encourage the business sector to fully tap into the potentials of the RCEP.

Matthew Manotoc, governor of the Philippine province of Ilocos Norte, just made a week-long trip to China in May.

He said he looks forward to more investments in his province from China.

The RCEP agreement, signed by 15 Asia-Pacific countries, entered into force on the first day of 2022.

The Philippines was the last country to ratify the deal, which eases market access to countries including ASEAN members, China, Japan, South Korea, Australia, and New Zealand.

 - Xinhua

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