Japan, RP work on trade pact talks

Japan, RP work on trade pact talks

TOKYO: Japan and the Philippines have reached a basic agreement
on a bilateral free trade agreement, a Japanese official said on
Friday.

The agreement was reached between Japanese Trade Minister
Shoichi Nakagawa and his Philippine counterpart Cesar Purisima in
talks on the sidelines of Asia-Pacific Economic Cooperation
meetings in Santiago, Chile.

"The broad agreement just reached will be used to finalize the
FTA to be signed later," said the trade ministry official. The
official declined comment on when it will be signed but the Jiji
Press news agency said that will happen later this month when
Japanese Prime Minister Junichiro Koizumi meets Philippine
President Gloria Arroyo in Laos. -- AFP

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Money-Pakistan-roads
ADB approves new loan for Pakistan
JP/16/Money

ADB approves new loan for Pakistan

ISLAMABAD: The Asian Development Bank said on Friday it has
approved a US$301 million loan package to improve the road
network in northwestern Pakistan.

The loan will fund the construction or improvement of about
1,200 kilometers of roads to improve connections to the Afghan
border and the southern port of Karachi.

A statement by the bank's office in Pakistan said the loan has
a 25-year term and a grace period of five years. -- AP