PBBM calls for closer ASEAN, Japan economic partnerships

President Ferdinand Marcos Jr. on Sunday called for closer economic partnerships between the Association of Southeast Asian Nations and Japan.

In his intervention for the Third Session- Fourth Agenda of ASEAN-Japan Commemorative Summit, Marcos lauded the East Asian country for being a "consistent and reliable innovation and technological leader."

Marcos also highlighted the progress that Japan has made in areas like peace and security, trade and investment, food security, and climate change.

He then mentioned the importance of building a "modern, comprehensive, high-quality, and mutually beneficial economic partnership" through agreements like the ASEAN-Japan Comprehensive Economic Partnership and the Regional Comprehensive Economic Partnership.

"While Japan is already the 4th largest trading partner and 4th largest source of Foreign Direct Investments for ASEAN, I am confident that this partnership will continue to grow and expand with the AJCEP Agreement and RCEP in place," Marcos said.

He further commended the "ASEAN-Japan Economic Co-Creation Vision," which outlines future directions for cooperation. He expressed particular interest in pillars focused on sustainability, diversity and inclusivity, and human capital development.

"Our young, dynamic, and skilled people are certain to play a vital role in shaping this vision in the path towards the Industry 4.0 Economy," Marcos added.

Food security and sustainable energy emerged as key priorities for the Philippines, with Marcos calling for new agricultural technologies and a climate-resilient ASEAN-Japan economic cooperation roadmap beyond 2025.

The Chief Executive also encouraged joint ventures to reduce carbon emissions, promote renewable energy, and enhance environmental sustainability.

In light of the COP28 decision to establish a Loss and Damage Fund, Marcos expressed the Philippines' interest in hosting the Board headquarters. He also welcomed collaboration on building robust supply chain strategies and developing physical and digital infrastructure in ASEAN.

"As the world becomes more interconnected, ASEAN must develop its physical connectivity and digital infrastructure as foundations for sustainable and inclusive economic growth, economic integration, competitiveness, and resilience," Marcos said.

He concluded by pledging the Philippines' continued leadership in ASEAN-Japan economic relations, aiming to "co-create a region of economic prosperity but also an inclusive society that is ready for the future."