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Philippines ratifies RCEP trade deal after shift by Marcos

Business groups cheer Senate's approval as step to boost competitiveness

A view of Manila's port. The Philippine Senate ratified the free trade agreement after the president advocated for more imports of agricultural products to tame inflation.   © Reuters

MANILA -- The Philippine Senate has ratified the Regional Comprehensive Economic Partnership, completing the process for participation in the world's biggest free trade agreement.

Other than Myanmar, the Philippines is the last country to ratify the deal, which eases market access among signatory countries. President Ferdinand Marcos Jr. had expressed reservations about the agreement but had a change of heart.

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