RCEP seen boosting China-Philippines trade

The expected implementation of the Regional Comprehensive Economic Partnership agreement will generate fresh momentum for China and the Philippines to boost bilateral trade in both goods and services in the coming years, said senior Philippine diplomats in China on Thursday.

With China and its partners pushing for the implementation of the RCEP agreement from next year, the free trade deal will not only help the Philippines to export more minerals, and agricultural and manufactured products to China, but stimulate the growth of trade in services to enrich bilateral business ties, said Philippine Ambassador to China Jose Santiago Sta. Romana.

The RCEP is a comprehensive trade and investment agreement of the 10 member states of the Association of Southeast Asian Nations and its five free trade agreement partners－Australia, New Zealand, China, Japan and the Republic of Korea. The deal was concluded in November last year.