PH seeks to update trade deal with Japan
The Philippines is looking to revive discussions to update the Japan-Philippines Economic Partnership Agreement (Jpepa), in a bid to widen market access for local agricultural products.
Jpepa is the country’s first bilateral free trade agreement that came into force in December 2008.
It aims to liberalize and facilitate trade in goods and services between both countries and increase investment opportunities.
Agriculture Secretary Francisco Tiu Laurel Jr. hoped that through Jpepa, Philippine bananas would be able to enter the Japanese market tax-free.
Tariffs
Local bananas are slapped an 8-percent import tariff during the summer season and 18 percent during winter.
However, neighboring countries such as Cambodia, Laos and Vietnam enjoy zero or preferential tariffs on banana exports to Japan.
Tiu Laurel said the Philippines was pursuing a similar trade benefit through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, but this “might take five years to complete.”
“We’re looking at the angle of bilateral agreements in order to speed up the process,” he added.
Tiu Laurel and Japan Agriculture Minister Shinjiro Koizumi have agreed to work together to find an amicable arrangement during the 47th Meeting of the Asean Ministers on Agriculture and Forestry held in Pasay City last week.
Tiu Laurel also said Koizumi had asked the Philippines to import Japanese grapes. Manila, on the other hand, has requested market access for Philippine pomelo to Japan.
“Both parties agreed to work on this as soon as possible so that we can increase the trade,” he added.
Tiu Laurel said China, which also participated in the regional bloc’s gathering, “has been open in general to accepting more” Philippine durian.
