RCEP enhances momentum, says envoy

But I’m quite sure that the Speaker and the Senate President would give us a good indication that the RCEP would be ratified. But we are pushing for that to be ratified

The Regional Comprehensive Economic Partnership or RCEP, the regional trade bloc agreement that is seeking a Senate ratification, could enhance the Marcos administration’s fiscal program.

Philippine Ambassador to the United States, Jose Manuel Romualdez, said RCEP will strengthen the economic program which President Ferdinand Marcos Jr. is very emphatic about.

It is now in the hands of Congress. All countries in the ASEAN region had agreed to it “but I am not sure where we are right now,” Romualdez told reporters in a press conference on Tuesday, organized by the United States Philippines Society.

“But I’m quite sure that the Speaker and the Senate President would give us a good indication that the RCEP would be ratified. But we are pushing for that to be ratified,” he added.

15 farm goods affected

Also on Tuesday, Consumer Protection Group Undersecretary Ruth Castelo said RCEP will not affect agricultural yields being produced by local farmers, as key agricultural products such as rice, corn and sugar will continue to be tariff protected.

“There are only about 15 agricultural products that will be affected by tariff reduction through RCEP, and these are not the basic agricultural products that we consider as staples. These sensitive or highly sensitive products like rice and corn are not subject to tariff commitments,” Castelo told the Daily Tribune.

Other products in the exclusion list under RCEP include cauliflower, carrots, lettuce, onions, tuna in airtight containers, maize (corn), garlic, coffee, instant coffee, poultry meat and edible offals, cabbage, sweet potato, cassava, cereal groat and rolled or flaked oats.

PHOTOGRAPH COURTESY OF ENERGY DEVELOPMENT CORP. LGUs tapped for climate actionThe Department of Environment and Natural Resources has partnered with First Gen Corp’s renewable energy unit Energy Development Corp. in developing a strategic program to complement and enhance climate action and resilience initiatives of local government units. Multi-sectoral partners sign a pledge of commitment for the project (from left) Silvestre Barrameda, NRC Executive Director; EDC president and COO Richard Tantoco; Ormoc City Mayor Lucy Torres-Gomez; DENR Secretary Maria Antonia Yulo Loyzaga; Leyte 4th District Representative Richard Gomez; Roberto Calingo, PEF Executive Director; and Kristine Rivadelo, PBSP Director for Operations.