The Philippines is seeking Japan’s support to review the Japan-Philippines Economic Partnership Agreement (JPEPA) and back its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Trade Secretary Ma. Cristina Roque said.
The proposed trade discussions may take place during President Ferdinand Marcos Jr.’s upcoming visit to Japan, but Roque said the final agenda still depends on the president.
“We are really pushing for an update of the JPEPA, and we have raised this with them several times. We also requested Japan’s endorsement for the Philippines’ bid to join the CPTPP,” Roque said, adding that she has already discussed the matter with the Japanese ambassador to the Philippines.
The Marcos administration remains supportive of free trade agreements as part of efforts to expand market access and attract investments.
Roque, who is in China with the President for the Asia-Pacific Economic Cooperation (APEC) meetings, scheduled meetings with several Chinese companies involved in sustainability initiatives.
On the sidelines of the APEC meetings, the Philippine delegation will also hold talks with potential investors in renewable energy and electric vehicle manufacturing as the government seeks to attract more green investments into the country.
The government is encouraging new electric vehicle manufacturers to enter the Philippine market, particularly to support small EV operators through financing programs that Small Business Corporation (SB Corp.) offers, Roque said.
The government earlier launched credit support programs for electric vehicle adoption as part of efforts to accelerate the country’s transition to cleaner transport and expand the local EV industry.
