FOR THE SECOND TIME IN FIFTEEN YEARS, DEMOCRACY IN THE PHILIPPINES WAS LIFTED UP TO THE LIGHT OF GLOBAL SCRUTINY AND WAS FOUND--REMARKABLY, SINGULARLY--SWIFT YET DECISIVE, VIGOROUS YET PRUDENT, BLOODLESS YET UNCOMPROMISING.

THE POLITICAL CRISIS THAT CULMINATED IN THE DRAMATIC EVENTS OF THE PAST WEEK AS A POLITICAL CRISIS THAT SENT THE ECONOMY'S ECONOMY INTO A DOWN SPIRAL. AND IN A NEW CENTURY WHERE DEMOCRACY AND THE MARKET HAVE BECOME INEXTTICABLY LINKED, WHERE DEMOCRACY AND THE MARKET HAVE BECOME THE TRUEST CURRENCIES, THE POLITICAL CONSEQUENCES OF ECONOMIC DECLINE ARE DIRE AND UNEQUIVOCAL.

THIS IS TRUE FOR THE NATION AS IT IS TRUE FOR THE REST OF THE WORLD.

IN THE LAST FEW MONTHS WE HAVE SEEN DEMOCRACY IN ACTION IN DEFENSE OF THE MARKET. DURING MY ADMINISTRATION, I HOPE TO INVIGORATE THE MARKET IN ORDER TO DEEPEN DEMOCRACY.

DEMOCRACY AND THE MARKET WILL BE THE GUIDING PRINCIPLES OF MY DOMESTIC AND FOREIGN POLICIES.

THE INTERNATIONAL CONTEXT

TODAY, THE PHILIPPINES FACES SEVERAL REALITIES THAT CHARACTERIZE ITS INTERNATIONAL AND REGIONAL ENVIRONMENT TO WHICH WE HAVE TO RESPOND IN ORDER TO ACHIEVE OUR GOALS.

THE FIRST REALITY IS THAT CHINA, JAPAN AND THE UNITED STATES AND THEIR RELATIONSHIPS WILL BE A DETERMINING INFLUENCE IN THE SECURITY SITUATION -- AND ECONOMIC EVOLUTION -- OF EAST ASIA.

SECOND, MORE AND MORE, PHILIPPINE FOREIGN POLICY DECISIONS HAVE TO BE MADE IN THE CONTEXT OF THE ASEAN.

THIRD, THE INTERNATIONAL ISLAMIC COMMUNITY WILL CONTINUE TO BE IMPORTANT FOR THE PHILIPPINES.

FOURTH, THE COMING YEARS WILL SEE THE GROWING IMPORTANCE OF MULTILATIERAL AND INTER-REGIONAL ORGANIZATIONS TO PROMOTE COMMON INTERESTS.

FIFTH, THE DEFENSE OF THE NATION’S SOVEREIGNTY AND THE PROTECTION OF ITS ENVIRONMENT AND NATURAL RESOURCES CAN BE CARRIED OUT ONLY TO THE EXTENT THAT IT ASSERTS ITS RIGHTS OVER IT’S MARITIME TERRITORY – AND GETS OTHERS TO RESPECT THOSE RIGHTS.

SIXTH, THE COUNTY’S ECONOMIC GROWTH WILL CONTINUE TO BE FRIENDLY TO BOTH DOMESTIC AND FOREIGN DIRECT INVESTMENT.

SEVENTH, A COUNTRY LIKE THE PHILIPPINES CAN BENEFIT MOST QUICKLY FROM INTERNATIONAL TOURISM.

AND EIGHT, OVERSEAS FILIPINOS WILL CONTINUE TO BE RECOGNIZED FOR THEIR CRITICAL ROLE IN THE COUNTRY’S ECONOMIC AND SOCIAL STABILITY.

THESE REALITIES HAVE BEEN WITH US FOR VARYNG LENGTHS OF TIME. AS IN OTHER MATTERS OF STATE, MY ADMINISTRATION WILL RESIST THE TEMPTATION TO TAKE ADVENTURIST INITIATIVES AND DIRECTIONS FOR THE SAKE OF APPEARING TO BE INNOVATIVE.

INSTITUTIONAL IMPLICATIONS

IN THE DEPARTMENT OF FOREIGN AFFAIRS I SHALL AVOID THE PRACTICE OF USING AMBASSADORISHIPS AS POLITICAL CONCESSION, NON-CAREER APPOINTMENTS WILL ONLY BE MADE AT THE AMBASSADORIAL LEVEL AND THOSE WHO WILL BE APPOINTED WILL BE SELECTED ON THE BASIS ON COMPETENCE ALONE.

IN THIS REGARD, I WOULD LIKE TO ANNOUNCE THE APPOINTMENT OF MR. ROBERTO R. ROMULO AS SENIOR ON INTERNATIONAL COMPETITIVENESS. BOBBY ROMULO, KNOWN TO MOST OF YOU AS A FORMER SECRETARY OF FOREIGN AFFAIRS AND CHAIRMAN OF THE E-ASEAN TASK FORCE, WILL ASSIST ME IN DEVELOPING POLICIES RELATED TO ENHANCING THE PHILIPPINES’ ABILITY TO HARNESS THE FULL BENEFITS OF PARTICIPATING IN THE GLOBAL NEW ECONOMY. HIS BRIEF INCLUDES FOREIGN POLICY, INTERNATIONAL TRADE, FINANCE AND INVESTMENT AS WELL AS INFORMATION ANG COMMUNICATIONS TECHNOLOGY STRATEGY.

I HAVE ALSO DESIGNATED FORMER PRESIDENT FIDEL V. RAMOS AS MY PERSONAL AND SPECIAL REPRESENTATIVE, WITH THE RANK OF AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY, TO THE WORLD ECONOMIC FORUM IN DAVOS. PRES. RAMOS HAS AGREED TO CONTINUE REPRESENTING ME AND THE COUNTRY IN OTHER IMPORTANT INTERNATIONAL EVENTS.

IN AS MUCH AS IMMEDIATELY SECURING THE SUPPORT OF OUR FRIENDS AND ALLIES IS CRITICAL, I AM ASKING THE FOLLOWING DISTINGUISHED MEMBERS OF PHILIPPINES SOCIETY TO SERVE AS MY SPECIAL ENVOYS:

FORMER AMBASSADOR ALFONSO YUCHENGCO – SPECIAL ENVOY TO CHINA, JAPAN, AND KOREA

FORMER SECRETARY RIZALINO NAVARRO – SPECIAL ENVOY TO SINGAPORE, THAILAND, CAMBODIA, LAOS, MYANMAR, VIETNAM, AS WELL AS AUSTRALIA AND NEW ZEALAND

MR. PAUL DOMINGUEZ – SPECIAL ENVOY TO BRUNEI, INDONESIA, AND MALAYSIA

FORMER AMBASSADOR RAUL RABE – SPECIAL ENVOY TO THE AMERICAS AND THE ORGANIZATION OF ISLAMIC COMMUNITY

AMBASSADOR CESAR BAUTISTA – SPECIAL ENVOY TO EUROPE.

YOUR EXCELLENCIES, WE ARE INDEED FACED WITH A REMARKABLE OPPORTUNITY TO ADVANCE THE CAUSE OF THE FILIPINO PEOPLE IN THE NEW MILLENNIUM. UNDER THIS ADMINISTRATION, I AM COMMITTED TO BUILD ON WHAT HAS BEEN ACCOMPLISHED AND MOVE THE COUNTRY FORWARD, DEEPENING DEMOCRACY AND DEMOCRATIC PROCESS.