The leadership of the House of Representatives has expressed its full support for the immediate ratification by the Senate of the Regional Comprehensive Economic Partnership agreement.
Joining Romualdez as authors of the measure were Majority Leader and Zamboanga City 2nd District Rep. Manuel Jose M. Dalipe, Senior Deputy Majority Leader and Ilocos Norte 1st District Rep. Ferdinand Alexander A. Marcos, and Batangas 5th District Rep. Mario Vittorio “Marvey” Mariño. They recalled that in November 15, 2021, the Philippines has signed the RCEP Agreement, a trade agreement that covers trade areas for goods, services and investments, sustainable growth, and business environment involving the 10 member-states of Asean and its five other free trade agreement partners, namely, Australia, China, Japan, New Zealand, and Republic of Korea.
Designed as the framework for economic and trade cooperation in the Asia-Pacific Region, the RCEP integrates and optimizes the economic and trade rules, including the changing digital landscape that affects intellectual property rights, trade facilitation measures, electronic commerce, and cross-border trade.