Philippines hopes to win a bigger portion of Japan’s banana market by introducing tariffs

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Japan has indicated an interest in expanding its trade relationships with Philippines in particular, focusing in boosting the exports of Philippine bananas. The Philippines have proposed a review of the Japan-Philippines Economic Partner Agreement (JPEPA) in order to gain more of the Japanese market for bananas. According to Dita Angara-Mathay who is the Commercial Counsellor of the Philippine Embassy in Tokyo In Tokyo, the Philippines used to supply 90 percent of Japan’s market in 2012; however, that share has dipped to 79% by 2023 and 75% by 2024.

The strict quality standards of Japan resulted in the diversification of sources for bananas due to the pests that are affecting Philippine exports. The Philippines seeks no tariffs on bananas similar to those that Japan will offer Vietnam and other countries before 2028. Angara-Mathay stressed the significance of trade in bananas for Filipino agriculture-based families. She said, “So many Filipino families who work in agriculture depend on the trade in bananas.”

The Philippines prefers to have bilateral talks for addressing these trade concerns, Japanese officials have suggested that they handle them in the Regional Comprehensive Economic Partnership (RCEP) the trade bloc comprising 15 countries. Angara-Mathay acknowledged the complexity of RCEP which means that concessions made to one member might require the same concessions for other members which highlights the distinct demands of members.

The source: GMA News

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