The Philippine Chamber of Commerce and Industry (PCCI) held a briefing on the utilization of the country’s existing free trade agreements (FTAs), including the Regional Comprehensive Economic Partnership (RCEP), Philippines–Republic of Korea Free Trade Agreement (PH–ROK FTA), PH-UAE Comprehensive Economic Partnership Agreement (CEPA), and the US–Philippines reciprocal tariffs arrangement.
DTI Undersecretary for International Trade Allan Gepty noted that the Philippines’ utilization rate of RCEP currently stands at around 20 percent. He emphasized that the country continues to face a significant trade deficit with our trading partners, prompting the government to proactively strengthen its information and awareness campaigns to educate businesses on how to avail of and maximize the benefits of these FTAs.
PCCI Pres. Consul Enunina Mangio welcomed the officials of DTI and expressed appreciation for updating the business community on the latest developments of the various FTAs.
PCCI leaders and representatives of the various PH industries actively participated the meeting, sharing their insights, concerns, and recommendations to effectively implement and maximize the full benefits of these FTAs.