Inching Towards JPEPA
Resurrection has come for Japan-RP free trade in the form of the Japan-Philippines Economic Partnership Agreement, or JPEPA.
It looks as if anti-FTA forces struck too soon, and now even President Gloria Arroyo-Macapagal's support can't dent its aura. Senate President Manuel Villar cannot amend the treaty into palatable bites. Senators Santiago's measured support and Roxas' flip for JPEPA also seem to seal the deal.
At the risk of sounding trite and pedantic at the same time (because economics is about as much fun as calculus and dental surgery combined), but, notwithstanding, that bilateral deals often do proceed advances in multilateral trade rounds, bilateral FTAs are little more than shining a light on the private sector and its lobbies for brief moments. Voters can see how the feeding frenzy that usually ensues hidden in yawn-inducing plain view in government offices and outside of chambers. So, JPEPA is a rare chance for voters to take a little revenge, but not much. That said, it's not an economic victory, but rather GAM's swansong.
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