RCEP will take effect in the Philippines at the earliest or in May

According to the Philippine Business World News, the Assistant Minister of Trade and Industry of the Philippines, Jiputi, said that the approval of RCEP had been completed and the next step would be to submit the approval letter to the ASEAN Secretariat. RCEP will take effect automatically 60 days after receiving the approval. This means that the Philippines can enjoy the trade convenience brought by RCEP as early as May. In the future, an executive order on tariff reduction planning will be drafted and submitted to President Marcos for signature. The administrative order will provide the basis for the Philippine Customs to handle trade transactions under RCEP.