Aquino expects ASEAN and India to realize comprehensive economic partnership
HANOI (via PLDT-SMART): President Benigno S. Aquino III has expressed hope that the Association of South East Asian Nations (ASEAN) and India will fully realize their Comprehensive Economic Partnership.
“Let us work together to ensure that closer ASEAN-India trade links will yield greater opportunities for economic prosperity for all of our citizens. The Philippines therefore looks forward to solidly implement ASEAN-India Trade in Goods Agreement which was signed last year,” the President said in his statement at the 8th ASEAN-India Summit here on Saturday.
The President noted that India is ASEAN’s seventh-largest trading partner, with total trade of over $39 billion last year.
Stressing that the ASEAN-India Trade in Goods Agreement is just one pillar to the full realization of a Comprehensive Economic Partnership, the President called for the conclusion of the ASEAN-India Trade in Services, and Investment Agreements.
He noted that such regional economic arrangement creates a market of over 1.8 billion people with a combined Gross Domestic Product (GDP) of over US$2.8 trillion.
“This economic bloc, under a regime of predictable, free and equitable trade rules, opens up vast opportunities for our business people,” he added.
The President also called for the adoption of the new plan of action to implement the ASEAN-India partnership for peace, progress and shared prosperity, which lays out the cooperation activities between the ASEAN and India.
Meanwhile, at the 2nd ASEAN-Russia Summit, the President underscored the importance of an ASEAN-Russia partnership in addressing the most pressing current issues even as he expressed hope that Russia continues her important role in the international multilateral sphere.
“We appreciate Russia’s giving importance to improving the supervision of the global economy and financial sector. We take note of Russia’s strong position in the G20 for the development of more effective financial supervision measures to prevent the occurrence of future global crisis, and the need for consistent work to reform the global financial system and implement the decisions made in previous G20 summits,” he said.
The President likewise said the Philippines supports Russia’s accession to the World Trade Organization as this would further accelerate the modernization of her economy and markets.
“The Philippines joins ASEAN in encouraging Russia to further modernize and liberalize its economy to help it perform competitively in the liberalizing global economy,” he said adding that ASEAN will constantly work with Russia to ensure a productive and prosperous economic relationship. (PCOO)
Aquino exhorts Australia to study easing non-tariff barriers to trade
HANOI (via PLDT-SMART): President Benigno S. Aquino III called on Australia to study easing non-tariff barriers to trade such as the phyto-sanitary standards for the importation of tropical fruits.
The Chief Executive issued the call to Australian Prime Minister Julia Gillard at the ASEAN-Australia Summit held at the National Convention Center here.
The President noted that the implementation this year of the ASEAN-Australia-New Zealand free trade agreement has enhanced ties between ASEAN and Australia. He added that this can be enhanced further with the implementation of the master plan on ASEAN Connectivity.
“Greater physical connectivity between ASEAN countries would further improve inter-regional commerce by making it easier for goods and people to travel throughout the region. I urge Australia to participate more actively in this endeavor,” the President said.
The President also invited Australia to undertake enhanced cooperation with the ASEAN Committee on Disaster Management.
At the ASEAN-New Zealand Commemorative Summit, the President welcomed New Zealand’s proposal to convene an Integration Partnership Forum that will come up with recommendations for the future framework of economic cooperation between ASEAN, Australia and New Zealand.
He also expressed support to the re-establishment of the High Level Task Force to further assist ASEAN and New Zealand in the directions of their partnership. (PCOO)
Aquino meets with Vietnam Secretary General
HANOI (via PLDT): President Benigno S. Aquino III met with Secretary General Nong Duc Mahn of the Central Committee of the Communist Party of Vietnam before heading back to Manila at the end of the 17th Association of Southeast Asian Nations Summit (ASEAN) on Sunday.
In his opening remarks Secretary General Nong Duc Mahn warmly welcomed President Aquino, who was accompanied by Finance Secretary Cesar Purisima, Trade Secretary Gregory Domingo, Presidential Management Staff Secretary Julia Abad, Presidential Communications Development and Strategic Planning Office Secretary Ramon Carandang and Philippine Ambassador to Vietnam Jerril Santos.
The bilateral meeting took place at the State Hall of the General Secretary's Office at 11 a.m. here.
The Secretary General lauded the President’s visit saying it would further “boost relations between the Philippines and Vietnam.”
“With your visit, relations (between our two countries) will be uplifted,” Secretary General Nong Duc Mahn said.
In response, President Aquino thanked the Secretary General for the four agreements inked between the two countries.
The Philippines and the Socialist Republic of Vietnam signed four agreements which aim to further strengthen and enhance bilateral relations between the two countries specifically in the fields of Education, Defense, Environmental Concern and Search and Rescue at Sea.
President Aquino and President Nguyen Minh Triet of Vietnam witnessed the signing ceremony of the four memoranda on Tuesday in Hanoi during the expanded bilateral meeting of the two heads of state.
The meeting took place shortly after President Aquino arrived at the Noi Bai International Airport Tuesday morning for a two-day state visit and to attend the 17th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits.
The agreements signed include Academic Cooperation, Defense Cooperation, Oil Spill Preparedness and Response and Search and Rescue Operations at Sea. (PCOO)
