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Philippine-Japan free trade talks include agriculture |
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(05 February 2004, Thursday - Philippine Daily Inquirer)
THE PHILIPPINES and Japan launched bilateral free trade talks Wednesday in a bid to further open up Southeast Asian markets comprising half a billion people to Japanese exports and capital. |
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The talks, which are parallel to Tokyo's talks with Malaysia as well as with Thailand, follows the signing of Japan's first free trade agreement (FTA) with a fourth Association of Southeast Asian Nations (ASEAN) member, Singapore, last year.
"We will try to achieve comprehensive and substantial liberalization of bilateral trade and investment," Japan's Deputy Foreign Minister Ichiro Fujisaki told a joint news conference at the start of the two-day talks. He said the two sides have agreed in principle to discuss free trade in all areas "including agriculture," a sector Tokyo has traditionally shielded from foreign competition. The Japanese government signed an economic partnership agreement last year with ASEAN -- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam -- and pledged to negotiate individual FTAs with ASEAN countries between 2005 and 2012. ASEAN comprises a developing economy market of nearly half a billion people that already hosts substantial numbers of Japanese-owned factories as well as eager consumers of Japanese manufactured goods. Japan is the Philippines' second-biggest trading partner after the United States, with two-way trade of 12.52 billion dollars in 2002. The talks were held a week before the start of campaigning for the Philippines presidential election in May. The Philippines' Trade Undersecretary Thomas Aquino admitted it was unlikely an accord would be signed by then. President Gloria Macapagal-Arroyo, who pledged at a Tokyo meeting with Japanese Prime Minister Junichiro Koizumi in December to sign an FTA accord within a reasonable period of time, is trailing in the national opinion polls to movie star and political newcomer Fernando Poe Jr. "Any elections, especially national elections, would most certainly affect any investment decision regardless of the nationality," Aquino said. "The extent of negotiations is such that if you look at May, it is really not enough to be able to complete fully the range of issues in the negotiations." Both sides are "simply committed to do as much as we can during the months up to the election," Aquino added. Fujisaki said there has been "a lot of groundwork." The two sides expect to resume talks in mid-April, he added, but "we have not set the target date" for signing the accord. Aquino said the Philippine government initially brought up the possibility of opening up the service sector of Japan, which has an ageing population, for Filipino health care professionals. Up to seven million Filipinos work abroad, sending home about eight billion dollars to the Philippines every year according to official statistics. Fujisaki said Japan wanted to "prepare a better investment environment so that private business would have more inducements, or will get more interested in investing into each other's country." Japanese businessmen have been complaining about high crime in the Philippines -- where kidnap gangs target businessmen -- as well as the interventionist streak of Filipino courts that at times had revoked government contracts signed years earlier. Fujisaki said his negotiating team was "not trying to focus on any impediment right now." He noted that the Philippines is geographically very close to his country. "We're trying to set up, very frankly, an improved environment" to enhance foreign direct investment flows. home | latest news |
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