Philippine trade secretary off to Japan to review free trade deal

Trade Secretary Ma. Cristina Roque (Photo by Alden M. Monzon)

MANILA, Philippines — Trade Secretary Ma. Cristina Roque is set to travel to Japan later this month as part of the government’s push for a general review of its free trade agreement (FTA) with Asia’s second-largest economy.

Roque said they were set to meet with undisclosed Japanese government officials to discuss the Philippine-Japan Economic Partnership Agreement (PJEPA) during a visit scheduled in the last week of May.

“That one we have to take up also because there are some agricultural products that we want to push up. It has been a long time. The review is long overdue,” Roque told reporters during a recent chance interview in Makati.

First bilateral FTA

The Philippines-Japan Economic Partnership Agreement (PJEPA), formerly known as the Japan–Philippines Economic Partnership Agreement, is the country’s first bilateral FTA.

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The FTA covers trade in goods and services, with both sides committed to reviewing its terms every five years, unless they mutually decide to adjust the review schedule.

In February 2023, Senior Trade Representative Dita Angara-Mathay said they were aiming for the removal of seasonal tariffs on the country’s banana exports to Japan.

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Other trade missions

Aside from Japan, Roque said that plans are underway to also stage a trade mission to South Korea, with the trip expected to take place possibly within the next few weeks.

Roque said they were also exploring new markets for Philippine furniture exports beyond the United States and the European Union.

She said that while the U.S. and EU remained key destinations, diversifying export markets was crucial to reduce dependence on traditional partners and capture emerging demand elsewhere.