DTI Press Briefing on ‘RCEP: Actualizing the Gains’ 06/02/2023

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Board of Investments Building, Makati City
June 2, 2023


Department of Trade and Industry (DTI) Secretary Alfredo Pascual holds a press briefing regarding the Philippines’ Regional Comprehensive Economic Partnership (RCEP) tariff commitments and its gains for the country as it enters into force today, 2 June 2023.

Industry Development and Trade Policy Group (IDTPG) Undersecretary Ceferino Rodolfo, Assistant Secretary Allan Gepty and Assistant Secretary Glenn Peñaranda join Secretary Pascual in the press briefing dubbed, ‘RCEP: Actualizing the Gains’, at the Board of Investments Building in Makati City.

On 7 May 2023, President Ferdinand R. Marcos Jr. signed Executive Order (EO) No. 25 that approved the National Economic and Development Authority (NEDA) Board's recommendation to operationalize the country's schedule of tariff commitments under RCEP. As such, 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.

RCEP is a multilateral free trade agreement (FTA) among 15 Asia-Pacific countries, including the 10 Member States of the Association of Southeast Asian Nations (ASEAN), as well as China, Japan, South Korea, Australia and New Zealand. It is currently the world's largest trade agreement by gross domestic product or GDP, covering a population of over 2.3 billion people with a combined GDP of US$25.8 trillion.


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