Philippines to Join Largest Trade Pact After Senate Approval

Joining the 15-nation deal will give the Philippines greater access to goods and boost investments

(Bloomberg) — The Philippine Senate approved the country’s participation in the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade deal which includes China and Southeast Asian nations.

Twenty senators voted to concur with the government’s ratification of the deal, Senate President Juan Miguel Zubiri said Wednesday in a statement. Under the Philippine Constitution, at least two-thirds of 24 senators must approve a treaty or international agreement for it to be valid.