GMA underscores need for Senate approval of JPEPA

President Gloria Macapagal-Arroyo on Tuesday came out once more to push the Japan-Philippines Economic Partnership Agreement at the Senate.

"We need JPEPA to create more jobs and further improve the economy," Pres. Arroyo said.

JPEPA, the government’s housing projects, and the P1.227 trillion proposed national budget for 2008 topped the agenda of yesterday's National Economic and Development Authority (NEDA)-Cabinet meeting in Malacañang.

In her opening statement, the President stressed the need for the Philippines to forge trade agreements, such as the Japan-Philippines Economic Partnership Agreement (JPEPA), with other countries.

"It is also important for business, jobs (generation) for the country’s widening and deepening trade and economic relations with other countries," she said, citing her successful trips last week to China and India which fetched US$2 billion in investments for the Philippines.

The JPEPA was signed by the Philippine President and former Japanese Prime Minister Junichiro Koizumi in September 2006, on the sidelines of the 6th Asia-Europe Meeting in Helsinki, Finland.

The Senate has yet to ratify the agreement.