THE Makati Business Club on Tuesday urged members of the Senate to ratify the Regional Comprehensive Economic Partnership which the business group said could help businesses expand abroad and accelerate job creation, among others.
While the regional trade deal would help the Philippines enter foreign markets, the local business group said it would also “expose” the country’s local industries to more competition at home. The local business group said it welcomes the effort that the Administration, especially Trade Secretary Alfredo E. Pascual and the DTI have exerted to further RCEP.Apart from MBC, other local business groups that have recently joined the call for the Senate to ratify the regional trade deal are Employers Confederation of the Philippines and Philippine Chamber of Commerce and Industry .
In a letter to Senate President Juan Miguel Zubiri, PCCI President George T. Barcelon said RCEP will “provide unparalleled opportunities for Philippine businesses and prime the country for further economic growth and development.”
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