Bangkok, 4 March 2005 – With the success of economic and fiscal reforms in laying the groundwork for Philippine economic growth, Thailand believes that there are many more opportunities for trade and investment cooperation between the two countries.  This was conveyed today by Thai Prime Minister Thaksin Shinawatra during the call of Foreign Affairs Secretary Alberto G. Romulo.

“Prime Minister Thaksin told me that Thailand is even more determined to intensify our bilateral economic interaction.  Such interaction will contribute to sustaining our current economic upswing,” Secretary Romulo said after his call on the Thai Prime Minister.

Secretary Romulo and Prime Minister Thaksin, who was also Thailand’s foreign minister from 1994 to 1995, also discussed Thai economic policies or Thaksinomics, which have characterized the success of the Thaksin government.

“We agreed that there are many similarities between the Philippines and Thailand and that with some modifications, the Thai development model could well succeed in the Philippines,” the Secretary said.

During their discussion of economic principles, Secretary Romulo said that the Thai prime minister commented on an important aspect of the success of the Philippine economy. “As a basic principle, economic reforms and policies can only succeed if it is fully understood.  Prime Minister Thaskin expressed confidence in our own economic reforms, saying that these reforms are succeeding because we have a leadership that truly understands economics and development,” Secretary Romulo said.

“I told him that we deeply appreciate his confidence in our economy and our reforms and his eagerness for deeper interactions between our two countries.  I said that coming from an experienced leader who is globally recognized for his own economic programs and reforms, his expressions of confidence and support were truly appreciated,” the Secretary said. END.
 
 
 
 

/Gary