THE Customs Tariff Commission of the State Council announced on Monday China will implement agreed tariff rates under the Regional Comprehensive Economic Partnership (RCEP) for certain imports from the Philippines starting on June 2 when the trade pact is set to take effect in the Philippines after the ratification process is completed.
The move marks another milestone for the RCEP, as it means the world's biggest trade agreement will enter the full implementation stage with all of its 15 members officially implementing it, trade analysts said, noting that the pact will boost trade among the members amid a complex and difficult global geo-economic landscape this year.
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