Marcos Set to Sign Seven Bilateral Deals During Trip to Japan

In his upcoming trip to Japan, President Ferdinand Marcos Jr is anticipated to sign seven bilateral deals which cover tourism, defense, infrastructure, and the like.

This working visit of President Marcos will provide the Philippines an opportunity to increase exports to Japan, according to Foreign Affairs Assistant Secretary for Asia and Pacific Affairs Nathaniel Imperial.

“During the visit, we anticipate the signing of seven key bilateral documents or agreements covering cooperation in infra development, defense, agriculture, and information and communications technology — areas that are in the President’s priority agenda,” mentioned Imperial.

For infrastructure cooperation, the Philippine government is expected to sign the exchange of notes on loan agreements for the North-South Commuter Railway project from Malolos, Bulacan province to Clark International Airport, and from Manila Tutuban to Calamba, Laguna.

“This will involve around $3 billion worth of loans that will be later signed also by the Department of Finance (DoF),” mentioned Imperial.

Aside from this, agreements on disaster cooperation and humanitarian assistance between the two countries will be on the agenda.

Imperial has mentioned that the government is hoping that the visit would also give Philippine agricultural exports such as Hass avocados and bananas, better access to markets in Japan.

Japan has been the largest bilateral source of active official development assistance, by providing loans to fund infrastructure, projects, and programs on science, education, technology, agriculture, and social safety.

“Other Cabinet officials and undersecretaries” will likewise join the President on his visit as part of the Philippine delegation.

Source: Business World