|
PRESIDENT Arroyo on Monday appealed to the Senate to
ratify the Japan-Philippines Economic Partnership
Agreement (Jpepa) as without it, the country stands to
lose as much as P365 billion in foreign direct
investments (FDIs) from Japan that may be channeled to
other Philippine competitors in the region.
During a
visit to Yazaki Torres Manufacturing Inc. facility in
Calamba, Laguna, the Chief Executive asserted the Jpepa
would be good for the country and that all safeguards
had been put in place to ensure that the Philippines
would not be at a disadvantage.
“The
Jpepa is worth it. We cannot afford not to ratify it
because with everyone else but us onboard, the Japanese
will bring their business to them. So we hope the Senate
would ratify the Jpepa when Congress convenes next
week,” she said.
She
noted that the Philippines was the first country after
Singapore with which Japan pursued the idea of an
economic-partnership agreement, but has so far lagged
behind countries like Malaysia, Thailand, Indonesia and
Brunei in terms of ratifying the bilateral agreement.
“Japan
has entered into the same kind of agreement since then
with Malaysia, Thailand, Indonesia, Brunei, and here we
are at the starting point, with everybody moving in
front of us,” she said.
Mrs.
Arroyo and then-Japanese Prime Minister Junichiro
Koizumi signed the Jpepa at the sidelines of the
Asia-Europe Meeting in Helsinki, Finland, on September
9, 2006, but the Senate has yet to ratify it over
concerns that it would be detrimental to local
industries, and would turn the Philippines into Japan’s
dumping ground for toxic waste.
The
President quoted former socioeconomic planning secretary
Solita Monsod, who had said that “the benefits of the
Jpepa far exceed the costs.”
She
noted the Philippine Institute of Development Studies (PIDs)
estimates that the Jpepa would generate between P6.5
billion and P110 billion for the Philippine government,
as it would improve the country’s investment climate.
The PIDS,
the President said, estimates that Jpepa would lead to
P365 billion in FDIs from
Japan,
and the creation of 200,000 jobs—compared with P4
billion in revenue losses for the government because of
tariff reductions for Japan.
“The
studies also show an overall positive impact on poverty
reduction. Tariffs on our farm goods will fall zero that
will boost the export of Philippine agricultural
products. Add to that the high wage hiring of our nurses
and caregivers,” she said.
She
emphasized that both governments have addressed
environmental concerns related to Jpepa when she went to
Japan last year for the 13th Nikkei International
Conference.
“About
the environmental issue, the fear that we will be made
dumping ground for Japanese toxic waste, their
importation is banned by international, as well as
national fiat. In any case, during my last visit to
Japan, Japan signed a side letter making that clear,”
Mrs. Arroyo said.
She
added the Jpepa stipulates that it can be reviewed and
negotiated every five years. |
