and we don’t want that,” he added.cation process. Its members are Australia, China, Japan, South Korea, New Zealand and the 10 members of the Association of Southeast Asian Nations. It is touted as the world’s biggest trade agreement since it represents 30% of the world’s gross domestic product.nalize its participation in RCEP after the Senate failed to act on it before adjourning on Feb. 3 for the election break. President Rodrigo R. Duterte signed the trade deal on Sept. 2.
“We need to nurture our local production capacity, not delay RCEP. We hope that the next administration will recognize that stopping the RCEP will not do any good,” he added. Raul Q. Montemayor, agricultural group Federation of Free Farmers national manager, said that the Senate should defer any action regarding the RCEP and let the incoming administration handle the trade deal.
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