RP trade mission visit Japan

RP trade mission visit Japan

MANILA (AP): Philippine officials are scheduled to visit Japan Wednesday to seek more investment and explain the economic policies of the administration of President Joseph Estrada, the government said Tuesday.

The economic mission, led by Foreign Secretary Domingo Siazon, will include Finance Secretary Edgardo Espiritu, Trade Secretary Jose Pardo and Central Bank Gov. Gabriel Singson.

The Philippine officials are to meet with Foreign Minister Masahiko Komura, Trade Minister Kaoru Yosano, Finance Minister Kiichi Miyazawa and officials of the Export-Import Bank of Japan and the Overseas Economic Cooperation Fund.

"Given the country's current financial situation and the prevailing economic conditions of the Asia-Pacific region, when the need is to stimulate domestic economic activity and generate external sources of finance, the mission cannot be anything but timely," Siazon said.

The Philippines will also ask Japan to co-finance three loans under consideration by the Asian Development Bank and the World Bank.