Samahang Industriya ng Agrikultura (SINAG) is calling on the Senate to reject the Regional Comprehensive Economic Partnership (RCEP), a mega free trade deal involving countries that comprise nearly a third of the global economy, claiming it will hurt the local agriculture sector.
SINAG argued in a position paper submitted to the upper chamber on Friday that the “promised” benefits of the country’s accession to the World Trade Organization (WTO) 27 years ago did not materialize and instead produced dismal results.
It said the Philippines’ agricultural balance of trade has consistently produced deficits since 1995.
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