DTI (Department of Trade and Industry) received 20 delegations from the member of the Kansai Economic Federation or “Kankeiren” the group is from Japan that plans to establish and expand its business operation to Philippines.
Japans mission in Philippines has definite objective in helping its movements in the ASEAN economy as well as the Economic Partnership Agreement (EPA) and Free Trade Agreement (FTA). Kankeiren (Kansai Economic Federation V-chairman Masayuki said that the agreement was done after a roundtable meeting with the Philippine DTI authorities together with the Kankeiren delegation.
Matsushita cleared out that the mission is to find out and asses the industrial policies, investment environment and economic conditions of the country and to use the findings in order for them to expand its business operation thru Kansai from Japan and Philippines.
The timing is perfect as Philippine is tagged among the fasted country with growing economy in the world. The economic integration of the ASEAN member clearly states that the Philippine economic outlook still remains high with the continuing positive and stable investments that are coming enabling the country to achieve good credit rate in terms of investment in major rating agencies.
Japan as Philippine strategic partner in growth will be realized as PJPEPA or Philippines Japan Economic Partnership Agreement were signed in the year 2006, Japan has become the number one trading partner of the Philippines and also one of the top source of the country.
During the said meeting, Vice chair Matsushita mentioned the major key points in the discussion: government’s position in the ASEAN integration, EPA (Economic Partnership Agreement) and the FTAs (Free Trade Agreement),Investment Environment in the Philippines, particularly on the roadmaps on the industry in order to strengthen business opportunities with the Japanese companies, natural disaster plans, and the government policies regarding environmental concerns and conservation of energy measures.
For years, Japan has been the strong partner of the Philippines in the business environment, addressing the developments on infrastructure through ODA (Overseas Development Assistance). The country values the inputs of the Japanese in rolling country’s infrastructure projects in order to sustain the rising momentum of the country.
The delegation was composed of business executive’s representative from manufacturing, services and trades and financial sectors. Not just that, it also included senior executives from Kyoei Steel Ltd., Itochu Corporation, Sojitz Corporation, Sumitomo Corporation, Daikin Industries, Ltd., Japan Bank for International Cooperation, Obayashi Corp., Mitsui & Co., Ltd., Mitsubishi Corporation, Marubeni Corp., Hitachi Zosen Corp., Daiwa Institute of Research Ltd., and Takenaka Corporation.
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