Metro Manila (CNN Philippines, February 15) — Senate President Juan Miguel “Migz” Zubiri on Wednesday appealed to colleagues for the ratification of the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement feared for its impact on local industries.
Zubiri delivered an impassioned sponsorship speech during the plenary session, which was attended by some Cabinet members. Executive Secretary Lucas Bersamin was present along with Trade Secretary Alfredo Pascual, Finance Secretary Ben Diokno, and Labor Secretary Bienvenido Laguesma.
Under RCEP, member states of the Association of Southeast Asian Nations (ASEAN) and its trade partners Australia, China, Japan, New Zealand, and South Korea can export goods and services to each other at zero to low tariff rates. Zubiri said it will benefit the Philippines’ exports, such as garments, papaya, coffee, fruit cocktail, and alcoholic beverages.The Senate leadership emphasized that the Philippines is the only ASEAN country that has not ratified RCEP while neighboring countries such as Vietnam, China, Thailand, Cambodia, and Malaysia have reaped benefits from it.Siguro naman mga kapatid ko dito sa Senado, hindi naman siguro tayo pinakamagaling sa kanilang lahat [Maybe, my brothers and sisters here in the Senate, maybe we are not the best among them all],” Zubiri said.Businesses and foreign investors are already getting wary about the consistency of our trade and investment policy direction,” he added.He also stressed that “highly sensitive agricultural products” such as rice, swine meat, poultry meat, potatoes, onions, garlic, cabbage, sugar, and carrots, are excluded from tariff liberalization.
RCEP was sponsored in plenary after just one committee hearing presided over by Senate President Pro Tempore Loren Legarda as chairperson of the foreign relations subcommittee. Senator Imee Marcos, committee chairperson, refused to lead the proceedings citing the concerns of agricultural groups.
The resolution concurring with the ratification of RCEP was signed by 16 members of the Senate committee on foreign relations, sending it to the plenary for debates. Marcos did not sign, as well as Senators Cynthia Villar, Bong Go, Chiz Escudero, and Risa Hontiveros.Legarda, who previously voiced her reservations about RCEP, said she “carefully weighed the risks of RCEP vis-à-vis the benefits,” and called on colleagues to also support the measure.She also stressed the need for programs and reforms that will support and protect the agriculture sector, including having a constant dialogue with farmers and other groups.
