JPEPAJapan-Philippines Economic Partnership Agreement
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The condition imposed by the committee also makes reservation for future exceptions to at least three JPEPA articles dealing with national treatment, most-favored-nation treatment and prohibition of performance requirements,'' she said.
Santiago said the agreement might take the form of an exchange of notes, and shall emphasize the ''common understanding'' of the two countries that no investors of either country shall be entitled to any right or preference under the JPEPA, ''unless such investment shall have been made in accordance with the requirements of the laws of the other country.
She said if Japan refuses to agree to a supplemental agreement, ''there will be no 2008 JPEPA,'' but the two countries will likely negotiate a 2009 JPEPA or later.
Otherwise, she said the Philippine Supreme Court would declare the JPEPA unconstitutional.
The Senate, which is controlled by President Gloria Macapagal-Arroyo's rivals, needs to speed up the ratification process of the JPEPA.
Last month, she said the JPEPA issue was also overtaken by a series of public hearings on yet another corruption issue concerning Arroyo's husband.
The Senate, which is controlled by Arroyo rivals, needs to speed up the ratification process of JPEPA.
Environmentalists and Arroyo's political foes have used the JPEPA issue to criticize her policies, accusing her of allowing the country to be a dumpsite of Japan's waste.
But Santiago vowed to return to Manila when session resumes in April to deliver her JPEPA sponsorship speech and defend it.
Arroyo's team launched in August a high-profile public relations blitz to urge the Senate to ratify JPEPA, but that move has apparently failed.
To give impetus to the JPEPA, Arroyo created an inter-agency task force Sept.