Local manufacturers of canned tuna and sardines are supporting the ratification of the Regional Comprehensive Economic Partnership Agreement, which is still pending in the Senate.
RCEP, which entered into force this month, is a free trade agreement among Asean countries and their trading partners including Australia, China, Japan, New Zealand and South Korea. This represents 30 percent of the global gross domestic product or $26.2 trillion. Apart from being at par with other countries in the region, Buencamino said that the trade deal would also result in job creation for the sardine industry.
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