The Outlook for a Philippine-Japan Economic Partnership

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There are many complementarities in the relations between Japan and the Philippines. In the areas of trade and investments, for instance, not only are the numbers in terms of volume and value encouraging but are also indicative of more potentials in terms of exchange that may still be tapped. Thus, in this issue of the DRN, the ongoing negotiation for a Japan-Philippines Economic Partnership Agreement (JPEPA) comes at a no better time. For it provides an opportunity to clear up certain gray areas in terms of definitions, regulations and the like that may serve as constraints in exploiting the full potentials of new and emerging areas of complementarities. One area that will benefit from a fair and frank negotiation is the growing retirement and medical tourism industry. In the Asian region, it is Japan, with its aging population and a relatively high per capita income, that provides this market. It is thus only logical and practical for destination countries like the Philippines in the region to tap said market. Endowed with resources that are natural magnets in attracting this market, the Philippines has seriously begun to examine, as discussed in one of the articles in this issue, its prospects of becoming a top haven for this special Japanese market.