MANILA, Philippines – The heads of foreign diplomatic missions in the Philippines and international financial institutions, such as the International Monetary Fund (IMF) see bright prospects for the country in 2011.
“The private sector in Europe will be looking at the Philippines with a very interested eye this year,” said Ambassador Alistair MacDonald, outgoing head of the delegation of the European Commission (EC) to the Philippines.
MacDonald said relations between the EU and the Philippines would improve through grants and humanitarian programs.
“Given that EU is the largest single export market for Philippines, accounting for 17 percent of total export, and the largest source of foreign investments, we plan to build on this,” MacDonald told reporters at a recent gathering.
The EU envoy said on top of the 36-million euro grant for the continuation of its ongoing support to the local health sector reform implementation, the EU will also release an additional 7-million euro for indigenous communities in Mindanao any time soon.
The EU Commission in Brussels, Belgium has just approved the allocation of 2.6-million euro for emergency humanitarian actions in the Philippines, particularly those adversely affected by recent typhoons, MacDonald said.
For its part, the British government welcomed President Benigno Aquino III’s inaugural commitment to leveling the playing field and making the country more attractive to investors by decreasing corruption and increasing transparency.
“We look forward to him delivering on that agenda in 2011,” British Embassy Chargé d’ Affaires Colin Crorkin said in a statement.
Crorkin said the United Kingdom will continue to actively promote trade and investment links with the Philippines in 2011.
“We also look forward to working with the Philippines on important issues that the world has to face together like climate change,” he said.
A good Free Trade Agreement (FTA) between the EU and the Philippines would make both places more prosperous, the British Embassy Chargé d’ Affaires stressed.
In this regard, the Philippine government has already indicated interest in engaging in serious negotiations for an FTA with Europe.
MacDonald said the highlight of his stint in the country is negotiating the first bilateral and comprehensive FTA between the EU and the Philippines.
He said the EU and the Philippine side are now working on the schedule for the signing of the proposed partnership and cooperation agreement (PCA) between Foreign Affairs Secretary Alberto Romulo and EU High Representative Lady Catherine Ashton.
Meanwhile, in a separate statement, the United States vowed to continue supporting the efforts of the Philippine government and the Filipino people to achieve economic development and poverty reduction this year.
“We believe our excellent relationship with the Philippines will continue to flourish in 2011 as we pursue a common vision of peace, stability, and prosperity,” the US Embassy said.
“We also look forward to working with the government and civil society to strengthen our cooperation on regional security, counter-terrorism, fighting corruption, and combating transnational crime, including the scourge of trafficking persons,” it said.
The positive outlook has so far resulted in the IMF raising its 2011 economic growth forecast for the Philippines, expecting Gross Domestic Product (GDP) to grow by 5 percent next year, faster than the forecast of 4.5 percent made last October. –ROY C. MABASA, Manila Bulletin
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