President-elect Ferdinand ‘Bongbong’ Marcos, Jr. wants an assessment of the country’s competitiveness first before pursuing the ratification of the Regional Comprehensive Economic Partnership trade agreement.
He explained that the agricultural sector should be sufficiently robust to take on the competition that will ensue with the opening of the markets. But he reiterated that the country must first ensure that it is ready to compete with fellow member nations before entering the pact. “Panay na naman ang import natin and we don’t want that. We want to beef up the agricultural sector. We want to have sufficient food supply for the Philippines in case of any crisis,” he continued.
The agency also presented the 4Cs in which the key benefits of RCEP for the Philippines can be summarized, namely: a) cheaper costs for sourcing key inputs of the manufacturing sector; b) convenience for businesses in trading with key FTA partners; c) competitiveness for Philippine industries; and d) complementation of existing government support programs.
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