President Ferdinand "Bongbong" Marcos Jr. has approved the issuance of an Executive Order (EO) that would operationalize the country's tariff commitments under the Regional Comprehensive Economic Partnership Agreement (RCEP), National Economic Development Authority (NEDA) Secretary Arsenio Balisacan reported. *President Marcos (Malacañang photo)*

In a press briefing in Malacañang, Balisacan said Marcos approved two landmark measures to advance the country's efforts toward "achieving deep social and economic change leading to a prosperous, inclusive and resilient Philippines." During the same press briefing on Thursday, April 20, Trade Secretary Alfredo Pascual said the President could sign the EO anytime. It is proposed to be effective 

on June 2, 2023

, to coincide with the end of the 60-day period after the deposit of the instrument of ratification. Once issued, Pascual said the EO shall be the basis of the Bureau of Customs (BOC) for issuing a Customs administrative order, which shall be distributed to all ports to allow for implementing the preferential tariffs on e-ports from RCEP member countries. "The issuance of the EO to implement the Philippines’ schedule of tariff commitments under a provision in the Republic Act that created the Customs Modern Tariff Act or CMTA," he said. "This section provides that the President shall, upon recommendation of the NEDA Board, modify import duties, including any necessary change in classification and other import restrictions as required appropriate to carry out and promote foreign trade with other countries," he added. The RCEP is a free trade agreement (FTA) among the 10 member states of the Association of Southeast Asian Nations (ASEAN) and its five FTA partners: Australia, China, Japan, New Zealand, and the Republic of Korea. In February, President Marcos said the RCEP would benefit the country because of the increased trade it would bring to different member economies. During Thursday's Palace presser, Pascual described the RCEP as an agreement that is a modern, comprehensive, high-quality, and mutually beneficial economic partnership agreement that provides opportunities for market access to trade, services, and investments. The agreement also establishes clear, stable, and predictable rules on trade and investments in the region, making it more convenient and competitive for Philippine businesses and investors to be integrated into the global economy. The Philippines confirmed its intention to become a party to the RCEP agreement with the ratification by President Marcos on November 28, 2022, of the RCEP agreement. The Philippines' instrument of ratification was deposited with the ASEAN Secretary-General on April 3, 2023. According to President Marcos, the Philippines will continue increasing its agricultural value chain investments to make it more competitive. He said RCEP would further strengthen the country's agricultural value chain.

Social Protection Floor

Balisacan said President Marcos also approved the recommendation for the Social Protection Floor (SPF), which the Cabinet-level of the Social Development Committee endorsed. These recommendations aim to institutionalize and improve the government’s current initiatives that cater to the needs of the most vulnerable Filipinos. The SPF refers to a nationally defined set of basic social security guarantees that aim to prevent or alleviate poverty, vulnerability, and social exclusion. "These guarantees provide protection to individuals and families in times of need," Balisacan said. "The guarantees should ensure that, at a minimum, everyone in need has access to essential healthcare and basic social services. These guarantees work together to provide effective access to goods and services that are defined as necessary at the national level," he added. To improve the delivery of social protection services, Balisacan said the SDC Cabinet-level had endorsed its enhanced social protection operational framework of the Philippines to the President and the NEDA Board. He said the framework aims to enhance the quality of life for individuals receiving social protection services. It is also the result of lengthy stakeholder and multipartite consultations that began in 2014. "Let me emphasize that today’s approval of the government Social Protection Floor is a significant progress in our country’s development history," Balisacan said. "This is a manifestation of the government’s commitment to significantly reduce poverty incidence and promote inclusive growth," he added. Social protection and human capital development are among the government’s goals as outlined in the Philippine Development Plan for 2023 – 2028, which seeks to harness the framework to attain desired social objectives, such as protecting the purchasing power of Filipino families and mitigating the harmful scarring effects of the Covid-19 pandemic, especially on vulnerable segments of our population. According to Balisacan, the SPF consists of four basic guarantees that cover the entire life cycle: * Health, including maternity care * Children * Active age * Older persons
The SPF for Health advocates for the complete implementation of Universal Health Care (UHC) to ensure that all individuals have access to adequate and accessible healthcare services. Meanwhile, the SPF for children includes initiatives to provide access to child nutrition, education, and care. This SPF guarantees social protection for children, at least at a nationally defined minimum level, and ensures access to nutrition, education, care, and other necessary goods and services. The recommendations under the SPF for children include the following: Enhancing the Pantawid Pamilyang Pilipino Program or 4Ps program. On the other hand, the SPF for active age compromises initiatives that support Filipinos who cannot earn sufficient income, including those who are part of the informal economy. This SPF includes provisions for emergency employment; enrolment of all beneficiaries of livelihood programs and social security programs; enhancement of existing unemployment insurance, social insurance coverage for job order and contract of service employees in the public sector; promotion of savings mobilization; employee compensation benefits; and programs for Overseas Filipino Workers (OFWs). Lastly, the SPF for older persons aims to extend social assistance and social pension programs to senior citizens. Under social assistance, the government ensures that elderly individuals receive discounts, access life-long learning opportunities, and receive integrated health services.