Japan Prime Minister Shinzo Abe offers P430B aid package to the Philippines over the next five years.
President Rodrigo Duterte welcomed the Japanese Minister who arrived in Malacañang last January 12 for a two day visit.
He will also visit Duterte’s hometown in Davao City on Friday.
The two countries pledged to strengthen economic relations.
In a joint press statement, Duterte and Abe said the aid package would consist of official development assistance (ODA) and private-sector investments to help the Philippines in its infrastructure.
‘We will leverage Japanese technology and know-how to the fullest extent to positively cooperate for the improvement of infrastructure in Metro Manila and the whole of the Philippines,’ Abe added.
Duterte said the Philippines and Japan’s economic agencies have been instructed to ‘seek new areas for collaboration and work’ for the fulfillment of agreements signed during his visit to Japan last year.
During his official visit to Japan in October, Duterte was able to get 12 business agreements valued at $1.8 billion.
He will come to Duterte’s hometown in Davao City on Friday.
Abe said ‘he chose Philippines to be his first foreign visit in 2017 to show his commitment to improve the relations between the two nations.’
The Japanese leader also expressed support for the Philippines’ chairmanship of the Association of Southeast Asian Nations summit this year.
Abe assured Duterte of Japan’s commitment to cooperate with the Philippines ‘hand-in-hand for the stability and prosperity of the region.’
The two leaders also reaffirmed their commitment to pursue a peaceful resolution to the longstanding maritime dispute over South China Sea (West Philippine Sea) and ‘Support for Mindanao’ in anti-drug campaign.
A total of five agreements were signed by the Philippines and Japan following a summit meeting attended by Duterte and Abe on Last January 12 in Malacañang.