Philippines

The new Asia-Pacific Regional Comprehensive Economic Partnership (RCEP) that came into force in January 2022 covers a third of the world economy and will eliminate 90% of tariffs among 15 East Asian and Pacific countries. The agreement will also reduce costs and improve policy cooperation for the benefit of micro, small and medium-sized enterprises which are the engine of most economies. ITC will focus on the ability of these enterprises to compete on sustainable and specialty goods and services.