5th NEDA Board Meeting

President Ferdinand R. Marcos Jr. leads the 5th National Economic and Development Authority (NEDA) Board Meeting at the State Dining Room in Malacañan Palace on April 20, 2023.

The agenda includes two (2) discussion points, namely the NEDA Board’s endorsement of a draft Executive Order implementing the Philippines’ tariff commitments under the Regional Comprehensive Economic Partnership (RCEP) Agreement and the Social Protection Floor (SPF) Recommendations as endorsed by the Social Development Committee – Cabinet Level.

President Marcos Jr. approves the said Executive Order on ‘Modifying the Rates of Import Duty on Certain Imported Articles, In Order to Implement the Philippine Tariff Commitments Pursuant to the Regional Comprehensive Economic Partnership Agreement.”  

He instructs Department of Trade and Industry (DTI) Secretary Alfredo Pascual to embark on an education and information campaign detailing the benefits and impact of the RCEP, with emphasis that the RCEP Agreement will provide the country with access to a 2 billion market.  

Likewise, it will present opportunities for job creation while ensuring that sensitive and highly sensitive agricultural products will not be included in the tariff reduction schedules, as well as not result to dislocation of workers.  

The Chief Executive also approves the Social Protection Floor (SPF) Recommendations with proposed strategies for social protection guarantees for health care, children, active age and older persons.  Most of the programs are already existing in each government agency, with the SPF ensuring the institutionalization of these programs intended for the vulnerable sectors aimed at poverty reduction.