The Philippines-Japan Economic Partnership Agreement (PJEPA), the Philippines' inaugural bilateral free trade pact, came into effect in 2008. Currently, Philippine parties are advocating for a swift conclusion to the ongoing general review of the PJEPA. This push is aimed at securing improved market access for certain products, as stated by a representative from the Department of Trade and Industry.
Trade Undersecretary Allan Gepty pointed out that the country's priority during the review is to achieve improved market access for its bananas, specifically through tariff reduction. Gepty further emphasized the country's push for Japan to expedite the review process and resolve pending issues. He also mentioned other products that could potentially gain enhanced access to the Japanese market.
When questioned about the review's completion timeline, Gepty indicated that it would be contingent on both nations' objectives. He added that while the timeline is uncertain, the Philippines' stance and policy direction are crystal clear, with the aim to conclude the process as soon as possible.
According to Japan's tariff schedule as of January 1, bananas imported from the Philippines between October 1, 2023, and March 31 are subjected to an 18% tariff. This rate is significantly higher than the 8% tariff imposed on Philippine bananas during the summer season, from April 1 to September 30.
Source: www.zawya.com