Another working visit
 16 June 2009

.
On Wednesday, I will be joining President Gloria Macapagal Arroyo on a four-day working visit to Japan. It will be a meeting between the Land of the Setting Sun of which the Philippines is known for, and the Land of the Rising Sun of which Japan is famous for.

The President's itinerary would include a meeting with Prime Minister Taro Aso and a royal audience with the Emperor and Empress of Japan.

Japan has been one of our most important trade, investment, tourism and development partner, since February 1953 or 56 years ago, when President Elpidio Quirino received the first Chief of the Permanent Japanese Mission.

It was during the term of President Diosdado Macapagal, the father of our President (as if you don't know), when the Crown Prince and Princess, now Their Imperial Majesties Emperor Akihito and Empress Michiko, made a state visit to the Philippines.

Japan is the Philippines' top export market and second largest trade market, with total bilateral trade amounting to US$ 14.2 billion. Japan is also one of the top sources of investment and tourist arrivals in the country.

Tokyo remains the Philippines' biggest source of official development assistance (ODA), which are in the form of yen loans, grant aid and technical cooperation amounting to a total of US$ 11.4 billion from 1956 to 2006.

Japan is also now engaged in Mindanao, and is part of the International Monitoring Team for the reconstruction and development of conflict-affected communities.

This visit will provide the President an opportunity to discuss with Prime Minister Aso the state of bilateral relations, and to sustain the momentum for strategic partnership, especially with the implementation of the Japan-Philippines Economic Partnership Agreement (JPEPA).

The inauguration of the JPEPA was considered timely, occurring at a time when the world was reeling from the global financial crisis. This landmark agreement can play a significant role in helping our nations capitalize on the mutually beneficial economic opportunities that will support our efforts to meet the global challenges and build a stronger long-term economic relationship.

It is believed that the agreement will bring about liberalization of trade and services between our two countries, facilitation and greater liberalization of investment, and enhanced technical cooperation and capacity building. It will promote an increased flow of resources and help create a bigger market that will provide greater opportunities and larger economies of scale for both Philippines and Japanese businesses.

[TOP] [HOME]