Philippines, Japan to sign $1.5B trade deals—DTI
As part of President Duterte’s official state visit to Japan, $1.5 billion worth of trade deals is set to be signed this week as per Department of Trade and Industry (DTI) Secretary Ramon Lopez.
$1.5B TRADE DEALS. 12 business deals with $1.5B worth of investment value are set to be signed this week as part of President Duterte’s visit to Japan. Image by PPD, grabbed from Rappler.com
In a report by ABS-CBN News, Lopez said that 12 business deals worth $1.5 billion investment value are expected to generate at least 200,000 jobs. The projects include agriculture, optical image stabilizers, shipbuilding and ship repair, biomass fuel, electric vehicles, vehicle parts, renewable energy and energy management systems, and automotive.
Lopez also mentioned Japanese companies here in the Philippines such as Mitsubishi Motor Philippines and Toyota Motor Philippines. According to Lopez, “Japan is out largest trading partner with over $18B total trade. We export more than we import, and we have $6 billion trade surplus, which is a big help to our economy,” he added as reported by Rappler.
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