Philippine economy is seen to grow stronger, making it the third fastest in the region in 2011 according to the rating agency as it cited the country’s improved economic performance as a breakthrough in the country’s many ties bind with foreign investors.
The three international ratings agencies had been analyzing gaming markets in Asia and western countries which the Philippines is rated one notch below investment grade.
President Benigno Aquino III forges ties with other countries such as Europe, Canada and Australia and its main objective is to build a comprehensive partnership between Asia and European countries. In the 9th Asia-Europe Meeting in Laos, President Aquino reaffirms the importance of Europe as a major investor in the Philippines even in the aftermath of the region’s current economic decline. Europe is the Philippines’ third largest trade partner after North America and Asia.
On the other hand, Canadian Prime Minister Stephen Harper said his government “would make further investments in the Philippines over the next three years with focus on sustainable economic growth”. Canadian investment would come with assistance from the Asian Development Bank. These funds will help create new opportunities across the Philippines. The government of Canada has also approved the grant to the United Nations Entity for Gender Equality and the Empowerment of Women. These funds will be used to help improve the rights of women and girls throughout Southeast Asia.
Meanwhile, Philippine and Australian defense authorities are mulling over the participation of Australian troops in the annual “Balikatan” exercises with US troops, making way for possible “trilateral” training exercises among the three countries’ militaries.-READ MORE AT: Agora Business Intelligence (November 16, 2012)
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