Duterte to promote strong, inclusive PH economy

PRESIDENT Rodrigo Duterte will promote the Philippines as “one of the best performing economies” in Southeast Asia when he joins 20 other leaders in the AsiaPacific Economic Cooperation (Apec) forum in Papua New Guinea on November 17 to 18, a Foreign Affairs official said Monday, November 12.

After gracing the 33rd Association of the Southeast Asian Nations’ Summit and Related Summits in Singapore on November 13 to 15, Duterte will fly to Papua New Guinea to participate in the 19th Apec Economic Leader’s Meeting that will be held in Port Moresby.

During this year’s Apec summit, the President would brief his fellow economic leaders that the Philippine economy is “more inclusive and more participative, especially for the smaller groups,” Foreign Affairs Undersecretary Ernesto Abella said in a press conference.

“This is a new era for Filipino engagement on the world stage. The Asia Pacific region represents the epicenter of global worth making Apec the most important economic cooperation platform in the world,” he said.

“And as one of the best performing economies and the fastest growing region in the world, the Philippines has much to contribute, as well as much to gain from a fruitful discussion with our neighbors, friends and allies in Apec,” Abella added.

Established in 1986, Apec is a collaborative forum among 21 Pacific Rim members with an aim to promote regional economic integration.

Apec member economies include Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taipei, Thailand, the United States, and Vietnam.

Over 5.7 million migrant Filipinos reside in the Apec region, Abella noted.

“Filipinos in the region contribute 57 percent of remittances to the Philippines. And the Philippine trade with Apec economies comprise 84 percent of the Philippines’s total trade worldwide, with 82 percent of our merchandise exports destined for the Apec region,” Abella said.

“In turn, 85 percent of all imports to the Philippines come from its economic partners in Apec. Also, about 83 percent of tourist arrivals to the Philippines also come from the Apec region,” he added.

Abella said Duterte would give “increased” emphasis on micro, small and medium enterprises to promote them in the global market and allow them to have “greater participation, greater opportunities, greater assistance, and greater transport technology.”

He added that the President would also highlight the country’s efforts of ensuring food security for Filipinos and advancing economic opportunities for women.

“Within Apec, the government is preparing Filipinos to meet the challenges and opportunities of a digital world or artificial intelligence, blockchains, big data, and the internet of things, [which] are redefining the way we do business [and] deliver services and education of the young,” Abella said.

“As we look forward to participating and contributing to the Apec forum, we are reminded of values that guide our foreign policy, which is advancing peace and prosperity in pursuit of a comfortable and secure life for all Filipinos,” he added.

On the sidelines of the Apec forum, Abella said Duterte would also meet with Filipinos residing in Papua New Guinea.

Papua New Guinea is home to more than 40,000 Filipinos. Over 200 Philippine companies also operate in the host country. (SunStar Philippines)