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PHILIPPINES’ ENTRY TO RCEP WILL ATTRACT MORE TRADE OPPORTUNITIES – DTI

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 Dateline Kamuning: Department of Trade and Industry (DTI) Secretary Fred Pascual stressed on Friday that the entry into force of the Regional Comprehensive Economic Partnership (RCEP) Agreement would attract more investments and trade opportunities to the country. "As RCEP takes effect, we commit to supporting Philippine businesses in becoming more productive and competitive within the region and globally. RCEP is a mega free trade deal that will also facilitate the influx of more investments in the country," Pascual said during the press briefing conducted by the DTI on June 2, where he discussed the benefits of the agreement for various sectors and industries. The agreement took effect today, 2 June 2023 and is expected to deepen existing economic integration within the broader region. RCEP countries account for 30 percent of global GDP and one-third of total inward foreign direct investments (FDIs) as of 2022. “Becoming part of RCEP signals to the community of n...