Sydney, 24 April 2004 – As part of her three-day official visit to Australia, Foreign Affairs Secretary Delia Domingo Albert today met with the executive board of the Australia-Philippines Business Council (APBC).

During the meeting, Secretary Albert assured the Council members that despite the challenges brought about by national, regional and international developments, the Philippines has maintained a sound political and economic environment.  She told the Council that, as a former Ambassador to Australia and Undersecretary of Foreign Affairs in charge of international economic relations, she would strive even harder to work for stronger RP-Australia ties.

In terms of strengthening the economic relationship between the two countries, the Secretary said that outstanding trade issues should not get in the way of improving our economic ties with Australia. “We must, indeed, work harder or face the possibility of a stagnant economic partnership, forgotten in the midst
of our own preoccupation with forging closer partnerships elsewhere. The reality of the current global trading environment demands that we undertake an urgent review of our existing bilateral trade and investment agreements. We need to bring our governments together to formulate a new and comprehensive framework
and favorable environment that will bring a true re-invigoration of the economic relationship,” she said.

The Secretary took the opportunity to brief the Council on the objectives of her official multi-country trips, which are intended to promote the Philippines’ national security, the attainment of economic advancement and social
development, and the protection of the welfare of Filipinos overseas. She explained that these three objectives or “pillars” of Philippine foreign policy are the underlying principles by which she pursues her official missions abroad.

“The second pillar, for instance, promotes our economic security through the use of economic diplomacy in promoting our country’s national interests. This can be done by encouraging the entry of foreign capital to the Philippines, thereby providing jobs and other gainful opportunities for our people and also by opening world markets for Philippine products and services,” the Secretary explained. “In my recent visit to Yangon, for instance, I was accompanied by a strong private sector delegation from the Philippines during the inaugural
meeting of the RP-Myanmar JCBC – considered a breakthrough in our 47-year diplomatic history with Myanmar – to provide Philippine companies with the opportunities to expand our presence in the manufacturing, ICT, and mining sectors, where we can undertake mutually beneficial activities with Myanmar
business groups,” she said. She noted that most ASEAN partners are actively present in that country.

The Secretary stated that the APBC can do its part by continuing to promote the Philippines in terms of trade, investments and tourism, particularly now that the country has remained on track to achieve political stability, peace and order as well as economic progress to become a strong partner for Australia. “The Philippine Economic Plan promoted by the Arroyo Government that invokes fiscal discipline, structural reforms and good governance has proven to be the right formula in sustaining Philippine economic stability and growth. In other
words, like the Australian economy, our economy has remained strong and resilient despite adverse conditions,” the Secretary said.

The Secretary went on to say that the Philippines and Australia also closely cooperate in the fight against terror. She said that the Philippines and Australia, together with countries in the region, are actively involved in
regional initiatives, meetings and conferences towards this end. She expressed appreciation for Australia’s assistance in enhancing the Philippine’s capability to fight terrorism and transnational crimes and to join regional cooperation programs to achieve the end goal of eradicating terror and bringing about peace.  She noted that development projects under Australia’s Official Development Assistance (ODA) fund incorporate activities aimed at promoting peace and economic development in Mindanao.

In responding to questions on an assessment of current relations between the Philippines and Australia, the Secretary highlighted the active defense cooperation activities which she had strengthened during her tenure with the conclusion of a defense cooperation agreement. She also underlined the close cooperation by the two countries in fighting terrorism in the region.

The Secretary commended the APBC for encouraging its members and friends to do business with or in the Philippines. “I am confident that the APBC would continue to be the prime mover for the Australian business and private sector in advancing Philippines-Australia relations,” Secretary Albert said.

“I also wish to take this opportunity to challenge the APBC to fulfill an important role by submitting a list of economic strategies by which the Philippine government can adopt to further improve the business climate in the country and encourage the entry of more tourists and investors. Such expert advice from the APBC can prove invaluable to an administration which hopefully would continue the tradition of active cooperation with Australia,” the Secretary said. END.