5 or more trade deals with Japan seen, says DTI chief
Trade Secretary Alfredo Pascual in Japan for the 50th Commemorative Association of Southeast Asian Nations (Asean)-Japan Friendship and Cooperation Summit
TOKYO, Japan —At least five business deals may be secured during President Ferdinand “Bongbong” Marcos Jr.’s Japan trip for the 50th Commemorative Association of Southeast Asian Nations (Asean)-Japan Friendship and Cooperation Summit, Trade Secretary Alfredo Pascual said on Saturday.
Asked how many deals are expected, Pasucual replied: “Well, more than five definitely.”
“I will not preempt, you know, the description of these sectors that will be covered by these agreements because this will be a session that will be done on Monday,” he said,
Pascual explained that memoranda of understanding are expected to be signed, which signifies serious intent.
“It’s part of the present policy of admin that we are inviting foreign investors to come to the country. Japanese investments are most welcome. They are among the largest investors in the Philippines, among all the nationalities that have operations in the countries,” said Pascual.
He said that the Philippines is vying for Japan’s commitment to create manufacturing facilities in the country.
“We are banking on Japanese companies to make use of the Philippines as a manufacturing hub for example and we’ll continue to invite them to establish their operation in the Philippines and as much as possible, bring with them their supply chain. We’re at that level, the co-creation will be pursued, hopefully, following this summit, this commemorative summit that we are having here in Tokyo at this time,” he said.
