Investments, Spratlys top agenda of President Aquino’s visit to Japan
Fresh from his working visit in the United States, President Aquino will leave for Japan on Sunday to pitch for more private investments and a loan package worth 9.2 billion yen.
The President is also expected to solicit Japan’s support for the Philippine position on the disputed West Philippine Sea, including possible defense assistance and communication upgrades for the Philippine Coast Guard.
The four-day visit will be highlighted by a state luncheon to be hosted by Emperor Akihito and bilateral talks with Prime Minister Yoshihiko Noda.
The President is expected to bring home a 9.2-billion-yen loan as part of Tokyo’s “global facility” to help neighboring countries combat the effects of climate change.
Foreign Assistant Secretary Maria Lazaro, head of the Office of Asia Pacific Affairs, yesterday said the Philippines would spend the amount on disaster management, including “forest lands management.”
Besides the loan, Mr. Aquino is also expected to secure $1.1 billion worth of investments from “several major Japanese business companies.”
Article continues after this advertisementIn his meeting with Noda, the President will “encourage continued Japanese investments in the Philippines including participation in infrastructure developments under the public-private partnership scheme,” according to Lazaro.
Article continues after this advertisementOn Tuesday, Mr. Aquino will also address the Japan Philippines Economic Cooperation Committee, and the Japan and Tokyo Chambers of Commerce and Industry.
Mr. Aquino will also present a token offering during his visit to the Miyagi Prefecture, where hundreds of people died in a tsunami last March. He will attend a gathering of Filipinos in Ishinomaki.
On the Spratly controversy involving China and other southeast Asian nations, Lazaro said Mr. Aquino would reiterate his position that the dispute should be discussed and resolved peacefully under the rules of international law.”
She said the discussion on the West Philippine Sea would involve only an “exchange of notes,” not a formal document.
