RP, Japan begin FTA talks

RP, Japan begin FTA talks

MANILA: Philippine and Japanese officials began two days of talks here on Wednesday in pursuit of a bilateral free trade agreement (FTA), officials of both countries said.

Japanese Deputy Foreign Minister Ichiro Fujisaki and his delegation were in closed door meetings with their Filipino counterparts, they said.

Japanese Prime Minister Junichiro Koizumi and Filipino President Gloria Arroyo agreed to the talks in December, when they met in Tokyo for a dialogue between Japan and the Association of Southeast Asian Nations (ASEAN).

Arroyo had earlier expressed hope the talks would be completed quickly because there were "very few obstacles" to an FTA, despite Japan's highly protected farm and labor markets.

The talks on Wednesday were aimed at identifying procedures in negotiations and items that would be covered in the accord, diplomats said. Negotiations are set to continue on Thursday.

Japan is the Philippines' second-largest trade partner next to the United States. Two-way trade in 2002 amounted to US$12.52 billion. -- AFP