Thursday, August 07, 2008

Japan-Philippines Economic Partnership set for Ratification

Philippine Sen. Miriam Defensor Santiago said that the Japan-Philippines Economic Partnership Agreement (JPEPA) is certain to be ratified by the Senate in September.

The senator said that the pact already has 14 of the 15 or 16 votes needed with another four to six votes nearly assured.

(Update) RP-Japan free trade deal as good as approved
ABS CBN News, Philippines - 23 hours ago
The controversial free trade agreement between the Philippines and Japan is as good as approved by the Senate, according to Senator Miriam Defensor Santiago ...
JPEPA approval assured -- Santiago
RP-Japan trade agreement ‘virtually assured’ of Senate OK GMA
13 senators back Japan deal Manila Standard Today

Japan's workforce is shrinking rapidly due to demographic changes in birth rate and an aging population. The nation is turning toward immigration to solve this problem, and Philippine proponents of the new free trade pact see this as an opportunity for Filipino workers especially nurses and health workers.

Philippine supporters also note that agriculture and exports should flourish under the deal. Japanese proponents cite greater opportunities for Japanese corporations looking to set up business in the Philippines.

Opponents in the Philippines say that it will allow Japanese business to overrun the Philippines, and in Japan, opponents worry about a swarm of new Filipino immigration.