Sunday, January 30, 2011

January reaction paper (soft copy)

Ayu P. Masuyoshi                                                               Econ111/MWF/7:40-8:40 am
II – AB – Psychology (Manresa)                                        January 31, 2011
Economic Issue
PH receives P21-B loan from Japan
MANILA, Philippines—Japan is pleased with the economic fruits of the Japan-Philippines Economic Partnership Agreement (Jpepa) and wants to further the cooperation between the two countries toward full implementation, the Japanese ambassador to Manila said Friday.
“We’re very happy to see very good, positive results since the entry into force of the Jpepa,” said Ambassador Makoto Katsura in a briefing at the Department of Foreign Affairs.
He cited the growth of Philippine exports to Japan, particularly commodities, as well as a rise in Japanese foreign direct investments in the Philippines.
“For example, your agricultural products such as bananas or coconuts enter Japan more easily because in Japan (we impose) lower tax (on) your agricultural products,” he said.
In the meantime, Japan has extended to the Philippines a P21.4-billion loan for the repair and maintenance of roads in various parts of the country, its first such development project under the Aquino administration.
Katsura signed and exchanged notes on Friday with Foreign Secretary Alberto Romulo formally granting the official development assistance.
The 40.8-billion-yen loan for the “Road Upgrading and Preservation Project” was coursed through the Japan International Cooperation Agency.
Under ODA terms, an annual interest rate of 1.4 percent would be charged over a 25-year repayment period, with a seven-year grace period and “very concessional terms and interest among various funding sources.”
Katsura said his country’s banana imports increased by 34 percent and coconut by 36 percent.
“This is a tangible result of the entry into force of Jpepa,” he added.
The Jpepa was ratified by the Philippine Senate in 2008.
The envoy also noted that the Japanese direct investments in the Philippines “represented 58 percent of all FDIs (Foreign direct investments) you received from the world in 2010.”
“Maybe Japanese investors were waiting for the entry into force of Jpepa, so we’re very happy to see these very strong, powerful, positive developments after the entry in force of the Jpepa,” Katsura said.
He said further cooperation between the two countries was important.
“I think your government will start or has started research or study, and of course, in Japanese, we have somebody here. And sometime this year, we can start talking to each other on these Jpepa issues,” he said.
The road repair project was first pledged at a meeting between President Aquino and Japanese Prime Minister Naoto Kan at a regional leaders’ summit in Hanoi, Vietnam, on Oct. 29 last year.
Japan has been the top ODA donor to the Philippines for years.
“This project reaffirms the government of Japan’s continued commitment extending cooperation in achieving sustainable growth in the Philippines and improving the living environment of the Filipino people, which will further foster a strategic partnership between the two countries toward the future,” the Japan Embassy said in a statement.
Some of Japan’s contributions to the Philippines’ road network are the 2,100-km Philippine-Japan Friendship Highway from Aparri to Davao and the 94-km Subic-Clark-Tarlac Expressway.






Reaction Paper
We all know that the economy of Japan is better than the economy of the Philippines but I believe that Philippines doesn’t really need to ask loan from Japan or from any other country because Philippines is rich in natural resources that could help the country earn more income.
“For example, your agricultural products such as bananas or coconuts enter Japan more easily because in Japan (we impose) lower tax (on) your agricultural products,” said Makoto Katsura.
That’s how Japan helps Philippines. And vice versa Philippines help Japan by exporting agricultural products going to Japan.
“This project reaffirms the government of Japan’s continued commitment extending cooperation in achieving sustainable growth in the Philippines and improving the living environment of the Filipino people, which will further foster a strategic partnership between the two countries toward the future,” the Japan Embassy said in a statement.
It’s good to know that Japan and Philippines are helping each other for the betterment of each economy. And sad to say that Japan Government sees the need of the Filipino people while some of our own Politicians are busy with their personal gains. Like for example the fight of Manny Paquiao in other country, some of our politicians go there just to watch one single fight where they need to out a big money, where this money can really help a lot if they invest it to the Philippines for the improvement of our country.
It is also sad to imagine that we are not yet pay our credit to the other country but here again now that we are accepting or accepted the help of Japan that in 25 years time we need to pay.
Just imagine where our money goes? Well, in fact we are paying a big tax in everything that we bought. Where this money go? Do we really need the help of other country? Can we really accept the sympathy of other country where we in ourselves don’t have any sympathy for our own country?
But in the other hand it is good to know that we are increasing our export such banana and coconuts with the help of Jpepa. I am hoping that this will really help for the improving of our country and also the Philippines will take this as a challenge to improve more not only in Japan but also in other rich country.
I am also hoping that our government will use the money in a good, reasonable and explainable way. I wish that this money will not be wasted and it will not go to the pocket of corrupt senators.
I am expecting for the updates of this money and the help and cooperation of our country because this is for the sake of all the Filipinos not only those Filipinos who lived in Philippines but also Filipinos who stay in other countries. Those people who really help for the improvement of our economy.

1 comment:

  1. INCREDIBLE!

    Your views are nice! I'm glad that you composed such originally. Carry on!

    score:25/25

    ReplyDelete