Economic Agreement with Japan to raise exports 5-10%
22 Aug '07
1 min read
Philippines is awaiting the approval of Economic Partnership Agreement with Japan (JPEPA), which will help boost inflow of investments in the country.
Experts expect that within four years of the agreement, investments from Japan will rise to P55 billion annually. Cumulative investments for four years could come up to over P220 billion.
These investments will chiefly revolve around automotive, textile and food processing industries.
Infact, sources say that many Japanese companies are only waiting for the JPEPA to be implemented.
Besides, the investments are expected to generate more than 331,480 jobs.
Trade Undersecretary Thomas Aquino further noted at a press meet, “With JPEPA, we are looking at an increase of 5-10 percent in exports, which should translate to a consequent increase in the gross domestic product of 1.7 percent.”
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