The Philippines signed a number of business deals with Australia and an international think-tank believes it will benefit Manila’s economy and national security. INQUIRER FILES/STOCK PHOTOS
MANILA, Philippines — The international think tank Stratbase ADR Institute said business deals that the Philippines signed with Australia will benefit the country’s economy and national security.
According to Stratbase ADR Institute, the agreements “concretize the unwavering commitment of the two countries in reinforcing their strategic partnership” as they prove that Manila and Canberra are “a long-standing partner.”
For the group, “safeguarding the national security of the Philippines is linked to the attainment of economic growth and economic security.”
“At the sidelines of the ASEAN-Australia Special Summit in Melbourne, the Philippines, and Australia took one step closer to realizing this goal,” Stratbase ADR Institute head Dindo Manhit said in a statement Thursday.
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President Ferdinand Marcos Jr. attended the Association of Southeast Asian Nations (Asean)-Australia Special Summit in Melbourne from March 4 to 6.
On the sidelines of the summit, the Philippines forged 12 business deals amounting to P86 billion in investments, including innovations in various fields such as technology, health, and energy.
Stratbase ADR Institute also said the economic agreements will bring in security in the geopolitical aspect, especially in the Indo-Pacific region.
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“At the core of this strengthened relationship between the two countries is a shared belief in the rules-based international order, one furthered by multilateralism intended to sustain peace and stability in the region. The agreements signed during this two-day visit demonstrate those shared values,” Manhit said.
“Indeed, this longstanding partnership between the Philippines and Australia signals a significant step forward in bilateral relations towards forging a stronger, more prosperous, and peaceful Indo-Pacific,” he added.