Japan has expressed interest in enhancing its trade relations with the Philippines, with a focus on increasing imports of Philippine bananas. The Philippines has proposed a review of the Japan-Philippines Economic Partnership Agreement (JPEPA) to regain a larger share of the Japanese banana market. According to Dita Angara-Mathay, the Philippine Embassy's Commercial Counsellor in Tokyo, the Philippines previously supplied about 90% of Japan's banana market in 2012, but this share has decreased to 79% in 2023 and 75% in 2024.
Japan's stringent quality standards have led to the diversification of banana sources due to pest issues affecting Philippine exports. The Philippines is seeking zero tariffs on its bananas, similar to the tariffs Japan plans to offer Vietnam and other countries by 2028. Angara-Mathay emphasized the importance of the banana trade for Filipino agricultural families, stating, "So many Filipino families in the agriculture sector depend on the banana trade."
While the Philippines prefers bilateral discussions to address these trade issues, Japanese officials have suggested handling them under the Regional Comprehensive Economic Partnership (RCEP), a trade bloc that includes 15 countries. Angara-Mathay noted the complexities of RCEP, where concessions to one member could necessitate similar concessions to others, highlighting the differing needs of member countries.
Source: GMA News