President Ferdinand R. Marcos Jr. underscored at the Indo-Pacific Business Forum (IPBF) in Taguig City on Tuesday the steadfast commitment of the Philippines to foster economic growth and international cooperation.
In his speech during the forum, President Marcos said his administration remains at the forefront of actively promoting the Philippines as a prime investment destination in the Indo-Pacific region through various strategic partnerships.
Among the strategic partnerships include the Free Trade Agreements (FTAs) and the Generalized System of Preference (GSP), ensuring that foreign investors in the Philippines will benefit from such “preferential market access.”
“Through our ties with different countries, our nation enjoys access to various markets, including the ASEAN market, the Regional Comprehensive Economic Partnership (RCEP), [and] the Philippines-Japan Economic Partnership Agreement (PJEPA), among others,” President Marcos said.
“These agreements underscore our commitment to fostering economic growth and international cooperation. With RCEP, investors can access other markets from RCEP countries by manufacturing and exporting their products from the Philippines,” he added.
President Marcos also said it is important for the Philippines not only to be in the right location, but also to gain access to other markets by way of FTAs and other tools. He said the Philippines is one of the best countries on international cooperation.
President Marcos assured the IPBF that the Philippine economy is not only growing, but also thriving, noting that the country is one of the fastest-growing economies in the world. He said the Philippines remains committed to fostering and continuing the country’s economic performance.
“We are continuing to formulate transformative reforms to ensure a conducive business environment, cultivate a skilled and competitive workforce, [and] drive industrial transformation. Through these steadfast efforts, we are attracting foreign investments that are not only fueling our growth, but also broadening our economic base,” he said.
“As we forge international collaborations and trade agreements, we create stronger economic ties with nations across the globe. Therefore, I am confident to be able to say that the Philippines stands at a pivotal moment in its economic journey,” he added.
The President said the Philippines remains at the forefront of ensuring collaboration, innovation and a shared vision for a prosperous Indo-Pacific region. |PND
