DFA: DTI to pursue earlier business pledges in Japan meet this week

Flags of Japan and the Philippines (INQUIRER.net Stock Photo)

MANILA, Philippines — Department of Trade and Industry (DTI) representatives will hold bilateral meetings with Japanese business leaders at the 50th Asean-Japan Summit in Tokyo this week to discuss the status of business pledges and agreements signed earlier this year.

The government secured $13 billion, or around P708 billion, in investment commitments during President Ferdinand Marcos Jr.’s five-day working visit to Japan in February.

“Now, the next thing that we have to take into consideration is the fact that there will also be bilateral business meetings. This will be headed by the DTI, and one of these is on the 18th,” Department of Foreign Affairs (DFA)-Office of Asean Affairs Assistant Secretary Daniel Espiritu said in a media briefing on Monday.

“This is important because I remember during our last briefing that one of the questions posed here was what happened to the pledges before, so this will be an opportunity to see what the progress is,” he added.

Aside from reviewing the status of the signed commitments, there will also be the signing of new business deals between the Philippines and Japan, according to Espiritu. These partnerships are expected to cover the creative economy and information technology sectors, among others.

Marcos is set to leave for Japan on December 15 to attend the 50th anniversary of Asean-Japan Friendship and Cooperation.

His delegation includes First Lady Ma. Louise Araneta-Marcos, House of Representatives Speaker Ferdinand Martin Romualdez, DTI Secretary Alfredo Pascual, Presidential Communications Office Secretary Cheloy Garafil, and other officials from DFA and DTI, according to Espiritu.

The Philippine delegation is set to return to Manila from the East Asian country on December 18.

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