MANILA, Philippines - The government will seek duty-free exports of goods produced from the Bangsamoro area to Japan, Finance Secretary Cesar V. Purisima said yesterday.
“We’re talking about giving the Philippines’ products from that region… (We want) preferential access to Japan so we can jumpstart investments in that area, the Bangsamoro,” Purisima told reporters yesterday.
The move will help lift economic growth in Mindanao especially amid the pending passage of the Bangsamoro Law, eyed to mark the end of several decades of insurgency and boost investments in the resource-rich parts of the country.
Details of this transaction will be finalized at the upcoming Philippine Development Forum (PDF) next month, Purisima said.
“There are no final agreements yet so we have to wait for the PDF,” Purisima said.
There have been a number of programs on peace and development in Mindanao implemented by the Japan International Cooperation Agency (JICA) including aid under the Japan-Bangsamoro Initiatives for Reconstruction and Development (J-BIRD), Purisima said.
“Japan has been one of our biggest supporters, especially in Mindanao,” Purisima said.
Purisima has just returned from a road show in Tokyo last week, during which the government’s economic team presented over $12.28 billion worth of infrastructure projects to Japanese investors.