STICK TO RCEP RULES – LEGARDA

THERE should be a stringent implementation of guidelines contained in a resolution concurring with the ratification of the Regional Comprehensive Economic Partnership (RCEP), according to Senate President Pro Tempore Lorna Regina “Loren” Legarda.

The guidelines were based on previous dialogues with affected industries, specifically the agriculture sector.

Legarda has assured that the sectoral concerns will be addressed when the Senate concurs with the ratification of the RCEP.

To gain her support, she said, the affected industries should commit to the economic partnership.

The Agriculture, Trade and Industry, Science and Technology, Budget and Management and Agrarian Reform departments, and the National Economic Development Authority, Tariff Commission, and Intellectual Property Office must listen to farmers and fishermen, the senator also said.

To optimize the benefits of global trading systems, Legarda added there must be transparency in the government and among partners.

“Set targets and time frames for our programs that are responsive to the needs of our farmers, small businesses and other producers,” the senator said.

Creation of a special oversight committee on the implementation of the RCEP is included in the filed resolution to monitor all concerned government agencies that will provide needed support to the affected sectors.

“We cannot stand in isolation as we face this huge wave of global and regional economic integration. We need to build capacities and efficiencies to achieve competitiveness,” Legarda said.

“My decision to lend support to the ratification of the RCEP is premised on my conviction that an open, transparent and predictable trade and investment environment generates new opportunities for everyone,” she added.

The RCEP is a free trade agreement among the Asia-Pacific countries of Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand and Vietnam.