THE Philippines and Japan will explore cooperation in the areas of clean energy, trade, and investment, the Department of Trade and Industry (DTI) said.
The DTI said Trade Secretary Alfredo Pascual and Japan’s Minister of Economy, Trade, and Industry Saito Ken discussed potential areas of cooperation between the two countries on the sidelines of the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting in Singapore recently.
“Building on the successful trilateral meeting between the United States, Japan, and the Philippines, we are eyeing more opportunities to strengthen our existing bilateral trade and economic partnership with Japan,” said Pascual.
During the discussion, the DTI said the two trade chief welcomed opportunities for a green transition.
During the ministerial meeting, in particular, the Japanese side conveyed the interest of the Japan Bank for International Cooperation (JBIC) to participate in the development of a waste-to-energy project that would contribute to the Philippines’ efforts towards a clean energy transition, according to the DTI.
Both countries also discussed potential collaboration in the critical minerals sector, particularly in developing resilient and reliable global supply chains.
The DTI said the Philippines expressed its strong interest in joining the Critical Minerals Agreement, which would further strengthen cooperation in this area.
The Philippines is also pushing for the resumption of the General Review of the Philippines-Japan Economic Partnership Agreement (PJEPA), emphasizing that the agreement aims to expand economic ties beyond trade in goods, covering areas such as services trade, digital economy, and sustainability.
Pascual, likewise, expressed openness to the open radio access network (O-RAN) initiative of Japan, which presents their plans to strengthen digital capacities and establish an ORAN academy in the country. (GMA Integrated News)
