Abe pledges $8.7 billion investments, speedboats

Japanese Prime Minister Shinzo Abe on Thursday pledged $8.7 billion worth of business opportunities and private investments along with speedboats and other counterterrorism equipment to the Philippines.

Following talks with President Rodrigo Duterte in Manila, Abe welcomed the Philippine leader's efforts to improve Manila's ties with Beijing "in light of the arbitral award," referring to the Philippines' victory in an arbitration ruling declaring China's claims to the South China Sea invalid.

China has refused to recognize the July 12 arbitration decision and has warned the United States and other countries not involved in the territorial row not to meddle in the disputes, which Beijing wants to be settled through one-onone negotiations with other rival claimant countries like the Philippines.

Abe, however, said "the issue of the South China Sea is linked directly to regional peace and stability and is a concern to the entire international community."

His two-day visit to Manila aims to further solidify relations with the Philippines at a time when Duterte is cozying up to China and Russia while taking a hostile stance toward Tokyo's main ally, the United States. Japan is among the top trading partners of the Philippines and one of its largest aid providers.

The Philippines is Abe's first stop in a four-nation swing as he presses efforts to boost Japan's trade and security engagements amid China's rise to Asian dominance. He will later travel to Australia, Indonesia and Vietnam.

Accompanied by his wife and a business delegation, Abe is the first head of state to visit since Duterte took office in June. It's an important affirmation of Duterte's leadership at a time when he faces domestic and international criticism for a brutal crackdown on illegal drugs that has claimed more than 6,000 lives.

Japan will help the Philippines fight illegal drugs by helping formulate treatment programs and improve facilities, Abe said.

In a bid to foster Philippine development, he said Japan "will create business opportunities through Official Development Assistance and private sector investments which, together, will be in the order of one trillion yen ($8.7 billion) over the next five years."