The Philippines and Japan took turns in defending their three-year-old bilateral free trade agreement before the World Trade Organization (WTO) highlighting the economic benefits the deal has generated for each country.
Philippines Permanent Representative to the WTO Ambassador Manuel A.J. Teehankee reported that Japan-Philippines Economic Partnership Agreement (JPEPA) underwent a one-day review by the WTO’s Committee on Regional Trade Agreements (CRTA).
Teehankee explained that the review of all FTAs or economic partnership agreements (EPAs) or regional trade agreements (RTAs) are meant only for transparency and to allow members to be informed of the different preferential arrangements that a WTO member may enter into and which may or may not have an impact on the most favored nation obligations it has vis-á-vis other WTO members.
“The review mechanism is a process by which the other members may pose questions and seek clarification from the signatories to the FTA EPA or regional trading arrangement … there is not supposed to be any prejudgment for or against an FTA but rather a means by which members share information,” he said.
During a CRTA review, Teehankee said some members often raise concerns that the FTA or EPA may cause derogation of MFN obligations while others say it helps as part of the gradual process towards globalization and global integration or as a stepping stone in the regional or bilateral context.
“This is the first FTA of the Philippines and so is the first review ever of the Philippines,” Teehankee said.
Japan and the Philippines both prepared joint written replies as well as responded to questions from the floor, Teehankee said.
DTI Senior Undersecretary Thomas G. Aquino, who chairs the Inter-agency Technical Committee on WTO Matters, and was the lead negotiator for the JPEPA for the Philippines said that “Japan and the Philippines have a positive and forward-looking economic partnership, and that Japan is the Philippines’ largest trading partner within East Asia Region and has sustained its position as the Philippines second largest global trading partner.”
Aquino further stated that “the JPEPA underwent fine scrutiny from members, which contributed to the better understanding of the Agreement’s objectives and specific provisions by WTO Members.” –BERNIE CAHILES-MAGKILAT, Manila Bulletin
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