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'Historic deal': Romualdez plays up PH participation in RCEP at parliamentary forum

Philippines | National

'Historic deal': Romualdez plays up PH participation in RCEP at parliamentary forum

By Ellson Quismorio

At A Glance

House Speaker Martin Romualdez has trumpeted the Philippines' entry into the Regional Comprehensive Economic Partnership (RCEP), which he described as a big deal in terms of international trade cooperation.

House Speaker Martin Romualdez (leftmost, standing) (Speaker’s office)

House Speaker Martin Romualdez has trumpeted the Philippines' entry into the Regional Comprehensive Economic Partnership (RCEP), which he described as a big deal in terms of international trade cooperation.

Romualdez did so during his speech Thursday, Nov. 23 at the start of the 31st Asia-Pacific Parliamentary Forum (APPF) at the Philippine International Convention Center (PICC) in Pasay City.

“This historic deal covers 30 percent of the global population and trade, the world’s largest free trade area in terms of the parties’ combined gross domestic product (GDP), and is poised to become the new center of gravity for world trade,” he said.

The Philippine Senate recently ratified RCEP.

Romualdez said the entry into RCEP of a signatory state “is a clear demonstration of its support for a regional market that is open, free, inclusive, and adherent to a rules-based multilateral trading system".

The Asia-Pacific region has about $32.6 trillion in combined gross domestic product (GDP), the Lakas-Christian Muslim Democrats (Lakas-CMD) president noted.

The House leader’s regional counterparts and peers, including those from Vietnam, Canada, Russia, Cambodia, Japan, Malaysia, and Chile are scheduled to call on him in the course of the conference.

Related Tags

Martin Romualdez RCEP Philippines

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