'Fully effective' RCEP pact to benefit Asia-Pacific area

MANILA — The Regional Comprehensive Economic Partnership entered into force in the Philippines on Friday, marking a milestone with the world's largest free trade pact being fully effective for all 15 member countries.

"We see the RCEP as a critical key for inclusive economic growth not only for the Philippines but within the ASEAN," said Philippine Trade and Industry Secretary Alfredo Pascual.

Describing the RCEP as "a modern, comprehensive, high-quality and mutually beneficial economic partnership", Pascual said the Philippines had secured enhanced market access for its key products, such as preserved pineapples, durian, chocolate and ignition wiring sets.