February 7, 2023 | 8:55 pmAGRICULTURE industry representatives said the government has not adequately supported farmers in achieving competitiveness against imports, which they called a necessary step before opening up the market under the terms of the Regional Comprehensive Economic Partnership .
Mr. Inciong compared the current pitch to join the RCEP with the campaign to join the WTO, noting that only features beneThe last major commodity to be opened up to imports was rice. The Rice Tariffication Law opened up rice imports to private parties, who had to pay tariffs of 35% on Southeast Asian grain.
He noted that the agricultural trade deficit continues to grow despite claims of adequate protection provided by trade deals. Trade Secretary Alfredo E. Pascual, speaking at the hearing, said that while he recognizes the concerns raised, “it is important to understand the bigger picture and view RCEP in terms of the opportunities it can bring to us.”
“Considering that a number of key trading partners and competitors are also participating in this agreement, delays in Philippine participation will result in the diversion of trade and investments toward countries already within the regional bloc, at the expense of our industry and people,” he said.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: bworldph - 🏆 9. / 68 Read more »