MAKATI CITY — The 5th Japan-Philippines Industrial Cooperation Dialogue was held in Makati City, Philippines on March 10, 2023.

The Japanese side was headed by Deputy Director-General for Trade Policy, Ministry of Economy, Trade and Industry (METI). The Philippine side was headed by Undersecretary for Competitiveness and Innovation, Department of Trade and Industry (DTI). The Dialogue brought together public and private sector representatives from both countries to discuss ways to enhance bilateral industrial cooperation and economic relations as well as business environment improvements.

Public and private sector participants from Japan and the Philippines engaged in fruitful discussions in the areas of i) the strength of Japan-Philippines Industrial Cooperation and future directions ii) cooperation on specific sectors such as automotive and electric vehicles, electronics and semiconductors industry development, aerospace industry development, and creative industries, and iii) collaboration on key activities that would link the startup ecosystems of both countries

The summary of areas discussed are as follows:

i)     The strength of Japan-Philippines Industrial Cooperation and future directions

Participants shared about the strength of Japan-Philippines industrial cooperation so far and the priorities of each side and actively discussed the future directions of the cooperation. Through these discussions, both sides agreed that further cooperation is critical to enhance the development and transformation of Philippine industries.

ii)   Cooperation on specific sectors such as Automotive and Electric Vehicles, Electronics and Semiconductors Industry Development, Aerospace Industry Development, and Creative Industries

Participants shared their views about the current situation of the four priority sectors of the Philippines such as new policy directions, business environment, and government support. The private sector participants described the challenges they face and the efforts they have made to enhance their businesses. Through these discussions, both sides agreed that further collaboration in both public and private sectors from both countries would help enhance the business environment in the Philippines, attract investments, and promote innovation.

iii)   Startup Ecosystem

Participants further shared views about the startup landscape of each country and actively discussed various support measures for collaborations, such as connecting Japan’s and the Philippines’ startup ecosystems. Both sides agreed that further collaboration between startups from both sides is critical to drive economic growth of both countries, and further agreed to hold an event on the promotion of startups by 3rd Quarter of 2023.

Finally, as a result of the discussions, Japan and the Philippines agreed to work towards holding the 1st joint Japan-Philippines startup event by 3rd Quarter of 2023 to promote open innovation and collaboration between the startup ecosystems of both sides.*

Date of release: 08 May 2023