Lumaktaw sa pangunahing content

DTI eyes RCEP’s ratification next year

The Department of Trade and Industry (DTI) is hopeful that the Regional Comprehensive Economic Partnership (RCEP) free trade agreement would be ratified next year.

In a recent briefing, Allan Gepty, Trade assistant secretary and Philippine lead trade negotiator, told reporters that his department planned to “finish the ratification process, including the Senate concurrence, by next year because we have the [national elections] in 2022.”

Before the RCEP takes effect, “there should be at least six Asean (Association of Southeast Asian Nations) [members] to deposit the instrument of approval or ratification and at least three Asean external partners,” he explained.

The 10 members of Asean — Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — as well as Australia, China, Japan, New Zealand and South Korea, signed the deal on November 15.

The DTI has claimed that the RCEP would improve the country’s competitiveness in exporting agricultural products, automotive parts, and garments.

The pact, it said, would increase the cumulation of certain products and benefit the country’s micro, small and medium enterprises (MSMEs).

A chapter in the agreement is dedicated to the institutionalization of support and cooperation geared toward MSMEs’ inclusive growth.

Gepty said sectors expected to benefit from RCEP include manufacturing, transportation, agriculture, auto parts, electronics, aerospace, creative industries, and information technology and business process management.

Once in effect, the RCEP would account for 27.8 percent of the world’s trade ($10.5 trillion), and 23.6 percent of foreign direct investment (FDI) inflows and 33.5 percent of FDI outflows.

The RCEP countries account for 60.6 percent of total Philippine merchandise trade and 11.4 percent of FDI inflows last year.


Source: ManilaTimes
Mga etiketa:

Mga Komento

Mag-post ng isang Komento

Mga sikat na post sa blog na ito

Leonen is backlog topnotcher

Supreme Court Associate Justice Marvic Mario Victor Leonen has racked up the top spots in his division and the court en banc in terms of pending cases. Marvic Leonen Documents from the court show that aside from 82 unresolved en banc cases, Leonen also has 899 pending cases in the Third Division as of March 31, 2020. The division’s Statistics on Judicial Pending Cases was signed by Division Clerk of Court Misael Domingo Battung erd. Leonen has 199 cases classified as “aging” and 700 “non-aging” cases in the Third Division which he heads. Non-aging cases are cases which are waiting for other pleadings to be submitted. Other members of the Third Division at that time when the statistics were made were Justices Alexander Gesmundo, Rosmari Carandang, Rodil Zalameda and Samuel Gaerlan. Leonen has been with the Supreme Court for eight years, having been appointed by President Benigno Aquino 3rd on Nov. 21, 2012. He turns 58 years old on December 29. He is the division’s m...
Mag-post ng isang Komento
Magbasa nang higit pa

TikTok donates $300,000 for typhoon victims in PH

Over the course of two weeks, two devastating back to back typhoons hit the Philippines. On November 1st, Super Typhoon Rolly (Goni) the strongest typhoon ever recorded in recent history struck the southern region of the Philippines. An estimated two million Filipinos have been affected, many of whom lost their homes and livelihoods. Ten days later, Typhoon Ulysses (Vamco) swept through many of the same provinces previously devastated by Typhoon Rolly, including Metro Manila and parts of Central Luzon leaving widespread flooding and power outages. Many areas are still struggling to recover from the aftermath of these calamities. Homes and livelihood across various provinces were lost to floods, strong winds and rain. LGUs and other organizations continue to mobilize and provide assistance to all who were affected by these typhoons, but many are still in desperate need of help. In line with its mission to inspire creativity and bring joy, TikTok has pledged to donate $300,000 (approxi...
Mag-post ng isang Komento
Magbasa nang higit pa

Ladies Who Shaved Their Private And Public Hair Needs To Know This

Many women practice waxing or shaving as methods of removing body hair. Still, a recent research has shown that this habit is dangerous and it must be stopped right away. This research was carried out by a team of scientists led by Andrea De Maria and it was published in the “American Diary of Obstetrics and Gynecology”. The results of the research have indicated that eighty seven percent of women go to the beauty salon to get their private intimate parts waxed, while ninety percent of all women shave their pubic hair on a regular basis. Nevertheless, De Maria claims that women should not wax or shave their private parts. As De Maria explains, the skin in the genital region is pretty sensitive and vulnerable to infection, particularly when there are small cuts and wounds on the surface of the skin caused during the process of shaving or waxing. This region also contains a great number of sweat glands and this means that this region is perfect for the growth of bacteria. Event...
Mag-post ng isang Komento
Magbasa nang higit pa