Today, June 2, 2023, the Philippines joins the Regional Comprehensive Economic Partnership (RCEP), as the last among 15 member countries to participate in the world’s largest trade deal that opens wide market access of products at lower tariff rates. As RCEP takes effect, the Department of Trade and Industry (DTI) also launched on Wednesday, May 31, the Import Surge Monitoring System to monitor the influx of imported goods. "Starting today stakeholders can already benefit from the improved market access on most products at lower tariffs and simplified trading rules," said Trade and Industry Assistant Secretary Allan B. Gepty, who is also the country’s lead negotiator in RCEP. “ If there is any unwarranted  increase, then appropriate trade remedies can be resorted to,” said Gepty. Gepty added that with the implementation of the Import Surge Monitoring System, interested stakeholders can ask the DTI’s Bureau of Import Services to monitor importation of competing like products and if there is a sudden and sharp increase, the same can be a basis of filing safeguard measures. The usual trade remedies available include RCEP safeguard measures, WTO safeguard measures, Anti-Dumping Measures and Countervailing Measures. “The only limitation is you cannot avail of 2 safeguard measures, that is, WTO and RCEP safeguards. You have to assess what is appropriate under the circumstances,” added Gepty. The Bureau of Customs also set the stage for the availment of lower tariffs with the issuance of  Customs Memorandum Order No. 12-2023 on May 26, 2023, or the guidelines on the issuance of proof of origin, grant of preferential tariff treatment, and verification procedures of the RCEP agreement. The CMO takes effect today, June 2, 2023, the effectivity date of Executive Order No. 25 issued by President Ferdinand R. Marcos Jr. on May 7, 2023 to operationalize the country's schedule of tariff commitments under RCEP. In the meantime, Gepty said the government has to intensify trade education and advocacy campaign to ensure that stakeholders optimize the utilization of the RCEP Agreement. RCEP is considered the world’s largest trade deal, which covers 10 members of the Association of Southeast Asian Nations (ASEAN), along with Australia, China, Japan, New Zealand, and South Korea It is designed to eliminate tariff rates — or the taxes imposed on imported products — on 90 percent of goods between the signatories within 20 years. The Philippines was the last to join RCEP because the ratification of the trade treaty took longer due to strong opposition from various groups, particularly the agriculture sector. The Senate concurred Malacanang’s RCEP ratification on Feb. 21, 2023, two years after the RCEP participating countries concluded the negotiations in November 2020. The previous Senate failed to concur the Duterte administration’s ratification of RCEP, making the Philippines the last among 15 signatories to ratify the agreement. To appease the agri sector, the Senate also created a Special Oversight Committee on RCEP led by Senate President Pro Tempore Loren Legarda with committee members Senate Majority Leader Joel Villanueva, Senate Minority Leader Koko Pimentel, Senators Imee Marcos, Cynthia Villar, Grace Poe, Mark Villar, Sonny Angara, Sherwin Gatchalian, Jinggoy Estrada, and Alan Peter Cayetano as members. The oversight committee will guarantee the smooth implementation of the free trade agreement. It will also monitor the support programs of government agencies for micro, small, and medium enterprises; science and technology; trade; and agriculture sectors. President Ferdinand R. Marcos Jr. signed Executive Order (EO) 25 on May 7, approving the National Economic and Development Authority (NEDA) Board's recommendation to operationalize the country's schedule of tariff commitments under RCEP. Under the EO, all originating goods of RCEP member countries that are subject to tariff differentials shall be levied the prescribed rates of duty, subject to the submission of a Proof of Origin and compliance with all applicable requirements under the agreement. The order covers those that "are entered into or withdrawn from warehouses or free zones in the Philippines for consumption or introduction to the customs territory." Originating goods subject to tariff differentials shall be eligible for preferential tariff treatment applicable to the originating goods of the exporting Party, provided that the exporting Party is the RCEP country of origin. If the exporting Party of the originating goods is not established to be the RCEP country of origin, the Party that contributed the highest value of originating materials used in the production of those goods in the exporting Party shall be deemed the RCEP country of origin," the order read. The originating goods shall be eligible for preferential tariff treatment applicable to the originating goods of the RCEP country of origin. According to EO 25, the Philippines may allow an importer to make a claim for preferential tariff treatment at the highest rate of customs duty that the Philippines applies to the same originating goods, including those from any parties contributing originating materials used in the production of such goods, provided that the importer can prove such claim. It further stated that nothing in EO 25 shall preclude the Philippine government from invoking its right of recourse to all trade remedy measures provided for in its laws, the RCEP Agreement, and other relevant international agreements, to ensure the prevention of import surges or unfair trade practices. The RCEP aims to establish a modern, comprehensive, high-quality, and mutually beneficial economic partnership framework; liberalize and facilitate trade in goods and services through the elimination of tariff and non-tariff barriers, as well as restrictions and discriminatory measures; and create a liberal, facilitative, and competitive investment environment.