RP, Japan ‘overcoming’ trade differences

The Japanese and the Philippine governments are resolving their differences over negotiations on the Japan-Philippines Economic Partnership Agreement (JPEPA) trade agreement which could signal that both countries would soon sign the agreement, Japan’s Ministry of Foreign Affairs said yesterday.

Japanese Foreign Affairs spokesman Yoshinori Katori said Manila and Tokyo are "overcoming their differences over JPEPA," and added that Tokyo was optimistic the trade pact would be signed within this year.

The two countries are negotiating the JPEPA, which will greatly increase the incentive for Japanese investments and pave the way for more bilateral trade.

The planned free trade accord will affect mainly industrial and agriculture products, but will also include services and proposals to let more Filipino nurses and caregivers work in Japan to minister to the aging Japanese population.

Katori said President Arroyo told Japanese Foreign Minister Taro Aso in a meeting at Malacañang that she was looking forward to the signing of JPEPA as soon as possible.

Aso visited the country last Sunday to meet Mrs. Arroyo and other officials to discuss the economic and other agreements as the two countries celebrate the 50th anniversary of diplomatic relations.

"We are on the final stage of consultation and President Arroyo mentioned we should finalize by the end of this year the JPEPA agreement as soon as possible," Katori said.

The JPEPA was supposed to be signed at the planned visit of Prime Minister Junichiro Koizumi to the Philippines scheduled last Sunday. But Koizumi cancelled his visit. Tokyo clarified the cancellation was not because of both countries’ failure to finalize the JPEPA.

When asked to cite the cause of delay, Katori declined.

"But I think that we are overcoming our differences. I am quite optimistic that we will be able to sign the JPEPA soon. We will work out the details," Katori said.