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Trade

Philippines explores joining TPP to expand free trade network

Domestic industry stands to gain from market access and cheaper imports

An electronics factory in the Philippines: Joining the CPTPP would lower the cost of procuring components while providing manufacturers easier market access.   © Reuters

MANILA -- The Philippines has formally expressed interest in joining the Trans-Pacific Partnership, with the goal of building new relationships with countries outside its existing bilateral free trade agreements.

Ramon Lopez, secretary of trade and industry, sent a signed letter of intent to New Zealand, the depositary nation of the trade bloc, formally the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

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