SENATE PASSES JPEPA BEFORE LEGISLATIVE BREAK

The Senate tonight passed on third and final reading tonight the Japan Philippines Economic Partnership Agreement (JPEPA) after hours-long discussions at the Senate plenary on the last session day before a month-long congressional recess.

Liberal President Senator Mar Roxas, one of the co-sponsors of the economic pact, which opens Japan to Philippine products and labor, immediately lauded the chamber's approval of Senate Resolution No. 555, calling for concurrence of the ratification of the JPEPA, in a 16-4 vote.

But he also cautioned the government to ensure that the best interests of the Filipino people will always prevail in pursuing expanded economic, social and cultural relations between Japan and the Philippines .

"We are witnessing a financial tsunami going around the financial centers around the world. It is timely that we acted on JPEPA at this time. It is necessary for us to keep up our competitiveness with our ASEAN neighbors, who have their respective economic agreements with Japan ," said Roxas, co-sponsor of the treaty at the Senate.

"At long last, JPEPA can now be implemented with the assurance that we in the Senate will maintain a hawk's eye vigilance against any potential abuse by either side. This is just the beginning. It is up to our government, in cooperation with the private sector, to fulfill and maximize the gains made possible through this treaty," he said.

"The passage of JPEPA also paves the way for discussions between our neighbors on the ASEAN-Japan multilateral agreement. Let us keep sight of what will work best for the Filipino people," he added.

Roxas stressed that the advantages provided for by the JPEPA would not happen overnight, and there must be due diligence on the part of the government and businessmen to make sure that gains are realized, and Philippine laws are enforced and upheld.

"I urge the executive to continue to hold discussions with the various sectors on the benefits of JPEPA, and to put in place the safety nets that as needed," he said.