MANILA – The Philippines and Japan advanced industrial partnership after the two signed an Industrial Cooperation Action Plan.
Department of Trade and Industry (DTI) Undersecretary Adrian S. Cristobal Jr. and Japan Deputy Director-General for Trade Policy Toshiyuki Sakamoto signed on Thursday the Industrial Cooperation Action Plan as part of the commitment of the two countries to strengthen economic ties.
The development follows the discussion of President Benigno S. Aquino III and Prime Minister Shinzo Abe in Japan when the former had a state visit in latter’s country last month.
The Industrial Cooperation Action Plan will enhance collaboration of the Philippines and Japan in areas such as manufacturing, automotive industry, micro, small, and medium enterprises (MSMEs), services, and human resource development.
The action plan aims to identify and address supply chain gaps through technical and institutional capacity building.
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