By IRMA ISIP and JED MACAPAGAL
DESPITE failing to get the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP), the trade department is confident the next government will make the Philippines’ accession to the largest free trade deal a priority.
This as the Federation of Free Farmers (FFF) lauded the decision of the Senate to defer the ratification and urged the next government to consult extensively with agriculture stakeholders first, on how to prepare farmers and fishers for the agreement to mitigate its threats on vulnerable sectors.
On Wednesday, Senate adjourned its session without voting on the RCEP.
The Philippines is one of three countries in the region yet to join RCEP which entered into force in January; the others being Indonesia and Myanmar. RCEP countries include Australia, China, Japan, South Korea and the 10 members of Asean.
Trade Secretary Ramon Lopez told reporters he remains optimistic RCEP will still be ratified “early” by the next Congress, adding it has the support of the incoming economic team.
“We we understand that it will be in their priority agenda. I can only hope for the early ratification in the next Congress. We leave this for the next administration and next Congress,” Lopez said in a text message.
Reiterating the economic importance of joining RCEP, Lopez said any delay in its ratification “bears the risk of losing some export markets as well as good opportunities in new investments as investors shift to participating countries who are part of RCEP system.”
“There may be lost opportunities in investments and jobs for our people, investments such as in agribusiness, manufacturing for exports and services. Many investors we talk to always ask about our RCEP ratification. We will do our best to keep their confidence and interest high on the Philippines as an investment destination,” Lopez added.
Raul Montemayor, FFF national manager, in a statement, said the group’s opposition to RCEP” is largely due to the mishandling of the issue” by the Department of Agriculture (DA).
“The DA stopped all consultations on RCEP in mid-2019. When talks were resumed in late 2021, changes in the agreement were no longer possible. Even then, the DA never acknowledged RCEP’s threats to the sector, despite data showing that our farmers were unprepared and our trade deficits were increasing by billions of dollars every year,” Montemayor said.
He added the DA sent mixed signals when it endorsed and defended the recent reduction in tariffs on rice, corn and pork and allowed the importation of huge quantities of rice, fish and pork while insisting the country’s sensitive agricultural sectors will be fully protected and exempted from any tariff cuts under RCEP.
“Our farmers and fishers do not wish to remain poor and unproductive and merely rely on government protection to survive. They want to increase their yields and lower their production costs so that they can be profitable and competitive, even under trade agreements like RCEP. But they expect government to be firmly behind them and not just stand idly by, or worse, work against them,” Montemayor said.
