Philippines seeks Japanese help in jumpstarting Bangsamoro economy

From InterAksyon (Oct 16): Philippines seeks Japanese help in jumpstarting Bangsamoro economy

The Philippines has asked Japan to buy more products from areas that would form part of the Bangsamoro region in a bid to jumpstart its economy.

Finance Secretary Cesar V. Purisima today told reporters that he discussed the matter with Japanese counterpart Deputy Prime Minister Taro Aso during a recent Tokyo road show by Philippine economic managers.

"We talked about giving the Philippines’ produce in the Bangsamoro region preferential access in Japan so that we can jumpstart investments in that area, but there are no final agreements yet," Purisima said on the sidelines of the International Association of Financial Executives Institutes World Congress.

"If anything, the process has to start and I think that meeting was the first discussion," he said, adding that the Bangsamoro area could export agricultural and natural resource products.

The matter of increasing exports to Japan was among the issues discussed that also include assistance for rebuilding areas devastated by Typhoon Yolanda.

The Philippines and Japan have an economic partnership agreement, which covers bilateral trade in goods and services.

Japan is one of the Philippines' top export markets, importing fresh fruits, tuna and other natural resource-based products, many of which are produced in Mindanao.

The Aquino administration successfully forged a peace deal with the Moro Islamic Liberation Front, and is pushing for the creation of the Bangsamoro area in Mindanao, the legislation for which is pending in the Senate.

http://www.interaksyon.com/business/97396/philippines-seeks-japanese-help-in-jumpstarting-bangsamoro-economy