Prime Minister Keizo Obuchi told former Philippine President Fidel V. Ramos on Friday that Japan would be willing to send an investment promotion delegation to the Philippines under the Japan External Trade Organization.
In a meeting at his official residence, Obuchi asked Ramos to convey the message to Philippine President Joseph Estrada, a Foreign Ministry official said.
Ramos told Obuchi he thought the Philippine government would be interested in the idea.
JETRO sent a similar delegation to Thailand and Singapore in February. The mission consisted of representatives from about 50 smaller companies. Its aim was to promote direct Japanese investment in the countries.
On Wednesday Ramos addressed an international symposium on Asian economies organized by JETRO where he said the recovery of the region's economies "does not give us enough reasons to celebrate" because numerous fundamental reforms still need to be carried out.
Ramos called on Asian leaders to muster "the political resolve to implement unpopular reforms," saying "sustained recovery will entail a long and sometimes tortuous process, brave leadership, perseverance to pursue reforms and strong political will."