Philippines – Japan Economic Partnership Agreement The Philippines and Japan concluded a free trade agreement in 2008. The VPA is the Philippines` only bilateral free trade agreement covering, among other things, trade in goods, trade in services, investment, personal transport, intellectual property, customs procedures, improving the business environment and public procurement. The United States is a major trading partner of the Philippines. In 2017, bilateral trade reached about $20 billion, with the United States running a trade deficit of $3.2 billion, according to the Census Bureaus. The Trump administration has been tough on trade negotiations, but Lopez is optimistic about a win-win deal. I don`t think they`ll weigh us, he said. Other ASEAN free trade agreements have concluded a preferential agreement with China, Hong Kong, India, Japan, South Korea, Australia and New Zealand. Visit www.dti.gov.ph/15-main-content/dummy-article/682-free-trade-agreements and tariffcommission.gov.ph/finder/ for a list of Philippine trade agreements and tariff plans and related commitments. More information on trade is also available on the Philippine National Trade Repository website pntr.gov.ph/.

The Philippines has been largely untouched by the damage of the trade war between the United States and China, and Manila hopes the country will be targeted by Asian companies seeking better access to the U.S. market. “Any discussion in this regard will indeed be a major step forward and will also be isolated from the trade tensions between these two major popular economies,” Lopez said. Finally, it examines the areas in which the free trade agreement is covered and how the Philippines could formulate its negotiating position in order to maximize the benefits of any concessions it may have to make in return. Business contributions will be essential in this regard, in particular to increase the relevance of the agreement to them. The purpose of the workshop is to enable government and business to better understand the issues at stake in order to generate support from businesses and the general public to move the process forward. It is time to start a public discussion on the feasibility of such an agreement, its benefits and the reciprocal commitments demanded by the Philippines. The economy, in particular, has not been as involved in the process so far.

They will be the main beneficiary, but it may also require them to make some adjustments to deal with increasing competition as the United States tries to ease what it sees as a restriction on U.S. business. This is essential because, beyond tariffs, a free trade agreement is expected to cover services, investment restrictions, including foreign justice, IPRs, public procurement, technical barriers and competition policy. For the Philippines, a free trade agreement with the United States