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Makabayan bloc slams ratification of RCEP as Marcos lauds 'swift ratification'

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RG Cruz and Job Manahan, ABS-CBN News

<h3>Marcos: We are proud of the &#x27;swift ratification&#x27; of RCEP</h3>MANILA — Lawmakers from the Makabayan bloc on Wednesday criticized the ratification of the Regional Comprehensive Economic Partnership (RCEP), saying it was prioritized over other concerns in the country.The Senate on Tuesday approved the ratification of RCEP following weeks of deliberation. Twenty lawmakers voted in favor of the measure.But House Deputy Minority leader and ACT Teachers party-list Rep. France Castro said the country&#x27;s membership to the free trade deal will just &quot;kill&quot; local industries. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/01/25/23/marcos-hopes-congress-will-pass-rcep-palace">Marcos hopes Congress will pass RCEP, other priority bills soon: Palace</a></li>	<li><a href="https://news.abs-cbn.com/business/02/21/23/neda-backs-ratification-of-rcep-says-agri-to-benefit">NEDA: &#x27;No truth&#x27; RCEP to hurt agri sector, problems caused by &#x27;past neglects&#x27;</a></li></ul>She urged the government to support local production instead. &quot;Dapat ganap na suportahan at palakasin ang lokal na produksyon ng pagkain sa pamamagitan ng agricultural subsidies, patuloy na umaasa ang gobyerno sa mga agricultural imports -- imported na bigas, sibuyas, bawang, karne at gulay para sa lokal na konsumo,&quot; Castro said. &quot;Dapat gamitin ng Kongreso ang mga kapangyarihan nito sa pangangasiwa upang matukoy ang mga epekto at epekto ng liberalisasyon sa pag-import sa agrikultura,&quot; she said. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/business/02/22/23/rcep-beneficial-if-ph-does-things-right-mbc">RCEP beneficial if PH &#x27;does things right&#x27;: Makati Business Club</a></li></ul>Castro and Kabataan Partylist Rep. Raoul Manuel alleged the RCEP will result in the unregulated importation of products and reminded their colleagues to think about its impact. Manuel said importation, instead of self-sufficiency in basic commodities, has made Filipino farmers and producers poor.&quot;Hindi natulungan ng mga malawakang free trade agreement ang bansa na magtatag ng sariling mga industriya,&quot; Manuel said in a statement.On Tuesday night, Gabriela Rep. Arlene Brosas opposed a House Resolution backing the country&#x27;s accession to the RCEP.<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2476525" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>Trade benefits in RCEP, she said, will &quot;be disproportionately reaped by no less than China, while the Philippines stands to lose more.&quot;&quot;Isusuko natin ang ating pangisdaan, sakahan, likas-yaman at yamang-tao sa ganansya ng Tsina sa ilalim ng kasunduang ito,” Brosas said. “Actually, China’s acts of aggression in our exclusive economic zone should have been an added reason to stay out of this trade game tilted in favor of Beijing. Asserting national patrimony means also rejecting China’s RCEP,” she added. <div>Marcos welcomes RCEP ratification</div>In a social media post, President Ferdinand Marcos, Jr. lauded the development, saying he was proud of its &quot;swift ratification.&quot;It also shows the Philippines&#x27; &quot;commitment to openness and a thriving business environment.&quot;&quot;Being part of this regional free trade agreement holds immense potential for promoting economic growth and development across the Asia-Pacific and brings numerous opportunities for our country, particularly in the areas of agriculture, manufacturing, and micro, small, and medium enterprises,&quot; he said. RCEP is a free trade deal among the 10 ASEAN members as well as Australia, China, Japan, South Korea and New Zealand.The free trade deal will also allow more agricultural products from other countries to enter the Philippines with zero tariffs.The government has said that RCEP will allow Philippine agricultural exporters greater access to the markets of member countries, as well as fewer barriers to trade.

House Deputy Minority leader and ACT Teachers party-list Rep. France Castro said the country's membership to the free trade deal will just 'kill' local industries. 

Makabayan bloc slams ratification of RCEP as Marcos lauds 'swift ratification'

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Makabayan bloc slams ratification of RCEP as Marcos lauds 'swift ratification'

RG Cruz and Job Manahan,

ABS-CBN News

Published Feb 22, 2023 09:14 PM PHT

Read More:

RCEP

Regional Comprehensive Economic Partnership

House of Representatives

President Ferdinand Marcos Jr

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