Japan to boost PH economic partnerships

Japan has pledged to boost economic partnerships with the Philippines to help it achieve upper-middle-income status, covering key sectors like telecommunications, energy, and infrastructure.

Japanese Prime Minister Shigeru Ishiba conveyed this commitment during a bilateral meeting with President Ferdinand 'Bongbong' Marcos Jr. at Malacañan Palace.

The two leaders agreed to strengthen their partnership in various areas, including economic cooperation, people-to-people ties, and defense and security.

Discussions also included regional and international developments, such as the disputes in the South China Sea and the US-China tariff war.

Both leaders agreed on the importance of opposing attempts to change the status quo in the East and South China Seas by force and realizing a free and open Indo-Pacific.

The Philippines aims to achieve upper-middle-income status by 2026, though the World Bank projects this may happen in 2027.

Prime Minister Ishiba also committed to listening to the concerns of Japanese companies operating in the Philippines regarding the impact of US tariffs and China's retaliations.

The upcoming 70th anniversary of the normalization of diplomatic ties between Japan and the Philippines next year will be an opportunity to further strengthen their cooperation.