NextGen Day

The Department of Foreign Affairs (DFA) stated on Friday that the Philippines had submitted its ratification document for the Regional Comprehensive Economic Partnership (RCEP) to the Association of Southeast Asian Nations (ASEAN) in Indonesia.

The document was officially delivered to ASEAN Secretary-General Kao Kim Hourn on April 27 by Hjayceelyn Quintana, the Philippine Permanent Representative to ASEAN.

The Philippine Permanent Mission to ASEAN said that the agreement will go into effect nationwide on June 2.

During the presentation of the document, Quintina said, “Philippine participation in RCEP is important, especially as it will increase the competitiveness of our industries, and it complements existing government support programs with the measures committed in the FTA (free trade agreement) to open up trade.”

ASEAN and its six FTA partners—Australia, China, India, Japan, South Korea, and New Zealand—officially began the RCEP discussions in Cambodia in November 2012. They are scheduled to be concluded in 2020.

The Philippines became the last signatory—aside from Myanmar—to complete the agreement when the Senate approved it in February 2023.

Given the larger cumulative area covered by RCEP, the Department of Trade and Industry previously stated that several Philippine products will enjoy improved market access regarding tariffs and rules of origin.

This includes bicycles, coffee, fruit cocktail, fresh papaya, fresh durian, coconut water, coffee, canned tuna, ignition wiring sets, and leather goods.

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