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MANILA - The country's investment promotion agencies (IPAs) and some business organizations have called for the immediate concurrence of the Regional Comprehensive Economic Partnership (RCEP) by the Senate. The IPAs and business groups said the Philippines cannot afford to delay or not participate in the RCEP, which is now the world's largest free trade agreement (FTA). "The RCEP Agreement promotes greater openness, creates a more business-friendly environment, encourages closer integration of economies, and provides a more stable and predictable rules-based system of trade. These all together establish the countries in RCEP as more attractive investment destinations," the joint statement said. The joint statement was signed by the Philippine Economic Zone Authority, Authority of Freeport Area of Bataan, Aurora Pacific Economic Zone and Freeport Authority, Clark Development Corporation, Cagayan Economic Zone Authority, John Hay Management Corporation, Poro Point Manag

Subic bayZamboanga cityPoro pointRodrigo duterteSubic clark alliance for development councilJapanese chamberCagayan economic zone authorityZamboanga city special economic zone authorityJohn hay management corporationPhilippine economic zone authorityRegional comprehensive economic partnershipTuna canners association of the philippinesSubic bay metropolitan authorityPoro point management corporationFreeport authorityClark development corporation