PHL, Japan sign Action Plan to boost Industrial Cooperation

After President Benigno S. Aquino III and Japan Prime Minister Shinzo Abe discussed strengthened industrial cooperation during the President Aquino’s State Visit to Japan last month, Philippine Department of Trade and Industry (DTI) Industry Development Group (IPG) Undersecretary Adrian S. Cristobal Jr. and Japan Ministry of Economy, Trade and Industry (METI) Deputy Director-General for Trade Policy Toshiyuki Sakamoto signed an Action Plan on Industrial Cooperation on 16 July 2015 at the Board of Investments, Makati City.

DTI said the Action Plan outlines broad initiatives in key areas of interest and cooperation including automobile; manufacturing; micro, small, and medium enterprises (MSMEs); services; and human resource development (HRD).

These initiatives are geared towards identifying and addressing supply chain gaps between the Philippines and Japan by providing technical and institutional capacity building to domestic industry players.

“The Philippines and Japan have a longstanding partnership in fostering economic development in the country. Japan contributes to our efforts in sustaining our socioeconomic growth as it continues to be a rich source of knowledge and experience in industry development and SME-centered policies and initiatives. These will help [our] initiatives in identifying gaps and designing measures that are in-line with our APEC Boracay Action Agenda to Globalize MSMEs,” Undersecretary Cristobal said.

The signing of the Action Plan was preceded by the first stakeholder consultation which aims to identify specific programs that could be undertaken by the Philippine and Japanese governments to implement the Action Plan.