Foreign ambassadors emphasize Philippines’ importance as an economic partner

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MANILA, Philippines, Nov 27, (Agencies): During the annual Pilipinas Conference on Nov 22, foreign envoys underscored the significance of the Philippines as a key economic partner, emphasizing collaborative efforts for a secure and robust economic future in the Indo-Pacific.

Australian Ambassador to the Philippines, Hae Kyong Yu, highlighted that the Philippines holds a prime position in Australia’s Southeast Asia Economic Strategy for 2040. She pledged Australia’s commitment to enhance bilateral trade and investment, emphasizing the strategic partnership established in September as a testament to joint efforts in security, development, people-to-people connections, and economic stability.

UK Ambassador to the Philippines, Laure Beaufils, noted the record-high bilateral trade between the UK and the Philippines, expressing optimism about the country’s present and future prospects. However, she urged improvements in the business environment, emphasizing the need for predictability in taxes, legislation, and regulations.

Canadian Ambassador David Hartman emphasized the Philippines’ centrality in Canada’s Indo-Pacific strategy, emphasizing shared values in democracy and commitment to a rules-based international order. Canada pledged investments aligned with the Philippines’ COP economic security priorities, encompassing food security, energy security, climate change mitigation, educational partnerships, maritime domain awareness, and defense procurement.

Ambassador of the Delegation of the European Union in the Philippines, Luc Veron, stressed the importance of international collaboration to bolster economic security. He advocated for strengthened trade agreements, international rules, and sustainable development through partnerships with reliable allies.

Stratbase ADR Institute President Dindo Manhit echoed the importance of strategic collaboration to ensure a secure and resilient economic architecture in the Philippines and the broader Indo-Pacific region. He emphasized the Philippines’ commitment to working with allies and partners to achieve peace, stability, inclusive economic growth, and environmental sustainability.

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