Press Release
October 9, 2008

CHIZ REJECTS BADLY NEGOTIATED JPEPA DEAL

Senator Chiz Escudero voted no for the ratification of the Japan- Philippines Economic Partnership Agreement last night in Senate.

Escudero who is against the treaty even from the start of its deliberation in the previous months said in entering into the treaty, rarely can there be justice or equity in a free trade or low tariff agreement between a well-developed and industrialized country like Japan and a poor and developing country like ours.

He said this was apparent in the last bilateral trade agreement the Philippines entered into involving the 1946 Parity Agreement and is, 62 years after, even more glaring with JPEPA.

He said after almost 6 decades after we entered into this kind of treaty, we still have not learned from the onerous and most disadvantageous provisions the country receives.

"The world has changed and is constantly changing and yet we are acting as if it is and we are still the same".

He said the traditional concepts of capitalism, free trade and laissez faire are being attacked and questioned given the looming global economic melt-down.

"And yet here we are still embracing perhaps soon-to-be obsolete and antiquated economic beliefs and principles".

Being a poorly and badly negotiated treaty, Escudero said the treaty gave up almost everything in the country and getting almost nothing and absolutely failing to pursue the best interests of the country as well as the aspirations of our people.

He said the Japanese cannot be blamed for fighting their country's best interests under JPEPA. However, our negotiators should not be forgiven for NOT doing their homework, NOT following the letter and intent of our Constitution, Not obeying laws passed by Congress, NOT protecting the best interests of our country and people and FOR selling out on our country's birthright.

Escudero said this is first of probably many economic partnership agreement that the Philippine government will enter into and if this is a preview of things to come, Escudero said "at least insofar as how it will be negotiated is concerned, then we, as a country and people, should be truly fearful.

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