Former Department of Trade and Industry Secretary Peter Favila. AFP FILE PHOTO/Ian Waldie
The government of Japan will confer to former Department of Trade and Industry (DTI) Secretary Peter Favila The Order of the Rising Sun, Gold and Silver Star for his contributions in forging stronger economic relations between the Philippines and Japan.
Favila, who served as former trade secretary from 2005 to 2010, will be one of the 89 foreign recipients of the said award.
In a statement, the Japanese government said that the award will be given to Favila in recognition of his contributions in “strengthening the economic relations between Japan and the Philippines.”
Under his term, the Japan-Philippines Economic Partnership Agreement (JPEPA) was ratified. JPEPA is said to be the “first comprehensive bilateral trade agreement entered into by the Philippines with Japan.”
“With Mr. Favila’s strong leadership as a Trade Secretary, JPEPA was finally ratified by the Philippine Senate in 2008,” the statement read.
Aside from being a former trade secretary, Favila also served as a member of the Bangko Sentral ng Pilipinas (BSP) Monetary Board and former Co-Chair of the JPEPA Sub-Committee on the Improvement of Business Environment.
The Order of the Rising Sun is said to be given by the Japanese government to recipients who have made significant contributions in international relations, preservation of the environment and promotion of Japanese culture, among other areas.