News Release


February 22, 2023



We, in the Management Association of the Philippines (MAP), would like to laud and thank the Senate for ratifying the Regional Comprehensive Economic Partnership (RCEP) Agreement.

As we stressed in our earlier statement, RCEP will certainly provide the country’s producers of various exportable products with easier access to the markets of other RCEP countries.  RCEP will help MSMEs expand market access, especially with more liberal rules of origin on traded products to qualify for trade concessions. It will also provide broader and cheaper alternative sources of inputs, and reduce costs of doing business through improved trade facilitation, especially customs and trade clearance procedures.

The ratification will enable the Philippines to compete on equal footing with our ASEAN and Asian partners already in RCEP in attracting foreign investments as they capitalize on the shift by a number of multinational corporations (MNCs) to seek alternative locations for their manufacturing sites.

RCEP promises to be the most important and largest economic grouping in the world. Thanks to the Senate for getting the Philippines on board to take advantage of the wealth of opportunities that RCEP offers to Filipinos in terms of expanded jobs, increased incomes, and better lives.

                                             BENEDICTA DU-BALADAD

                                           MAP President