PHILIPPINES, JAPAN MAY REACH TRADE ACCORD SOON.

MANILA, Nov 1 Asia Pulse - The Philippine Department of Agriculture (DA) has expressed optimism that the Philippines and Japan would reach a trade accord in two months following the fifth round of negotiations for the proposed Japan-Philippines Economic Partnership Agreement (JPEPA) in Manila last week.

DA Assistant Secretary Segfredo Serrano, who was the country's agricultural delegate to the JPEPA talks, said in a press conference Friday that the Philippine panel led by Trade Undersecretary Thomas Aquino had discussions with Japanese Deputy Minister Ichiro Fujisaki on agricultural trade concerns where an exchange of offers and requests was conducted, particularly regarding sensitive conditions in the trade relations between the two countries.

Last year, Japan was the country's second biggest export market after the US. Total trade between the Philippines and Japan grew at an average rate of 5.1 per cent each year in the last five years from US$10.8 billion in 1999 to US$13.41 billion in 2003.

Serrano said the fifth round was an especially "delicate and sensitive," albeit interesting stage, in the gestation period of the JPEPA. He added though that the Philippine panel is closer to achieving its objectives after last week,s discussions.

"We seek to be fair and ...