RP, Japan pave way for JPEPA start on Dec 11

The Philippines and Japan exchanged diplomatic notes last Friday for the implementation of a free trade agreement known as the Japan-Philippines Economic Partnership Agreement (JPEPA) beginning Dec. 11, 2008.

A Japanese government announcement said the document to formalize the entry into force of JPEPA was signed by Foreign Affairs Secretary Alberto Romulo and Japanese Ambassador Makoto Katsura in Manila.

The notes also provide all the necessary legal procedures that have been completed.

Besides providing a framework for liberalization of trade and investment between the two countries, the agreement will allow Filipino nurses and caregivers to work in Japan.

JPEPA also aims to promote a freer trans-border flow of goods, persons, services and capital between Japan and the Philippines.

The agreement also details possible cooperative programs, including training courses for the regulation and supervision of financial institutions, trade and investment cooperation, cooperation in the field of small and medium enterprises, technical cooperation in the field of science and communications technology and promotion of tourism.

It also seeks to promote partnership in intellectual property, competition policy, improvement of business environment and bilateral cooperation in such fields as human resources development, information and communications technology and small and medium enterprises.

The pact also details possible cooperative programs, including training courses for the regulation of and supervision of financial institutions, trade and investment cooperation, cooperation in the field of small and medium enterprises, technical cooperation in the field of science and communications technology and promotion of tourism.

Despite the delay in the ratification of JPEPA by the Senate and show of little interest to the controversial accord, Japan had not given up on the ratification and entry into force of the JPEPA.

Japan maintained that JPEPA will promote the national interests of both countries and make bilateral relations even closer, in offering wide-ranging benefits to the peoples of both countries.

Tokyo said the agreement Japan will make the bilateral economic relations more comprehensive, more interactive and more mutually beneficial.

JPEPA was signed on Sept. 9, 2006 by President Arroyo and former Japanese Prime Minister Junichiro Koizumi during the Asia-Europe Meeting (ASEM) in Helsinki, Finland.