Japan, RP to begin free trade talks

Japan, RP to begin free trade talks

TOKYO: Japanese Prime Minister Junichiro Koizumi and
Philippine President Gloria Arroyo agreed on Thursday to begin
talks on concluding a free trade agreement, Japanese officials
said.

"The two leaders decided that the governments of the two
countries should enter into negotiations beginning in early
2004 ... based upon the discussions and achievements" of a
bilateral working group, a joint statement issued after the
meeting said.

They also decided the two nations should conclude the free
trade pact "within a reasonable period of time, taking full
consideration of mutual understandings and sensitivities."

Koizumi agreed on similar initiatives with his Malaysian and
Thai counterparts earlier on Thursday.

The Japan-Philippines statement said the two leaders stressed
"economic partnership agreements serve as appropriate building
blocks that strengthen global trade."

Koizumi is playing host to the leaders of the 10-member
Association of Southeast Asian Nations (ASEAN) to celebrate three
decades of relations.

Japan's first bilateral free trade agreement, with fellow
ASEAN member Singapore, took effect in November last year.--AFP