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Manila Bulletin devider Philippines devider National devider ASEAN Summit 'excellent venue' for Marcos to pursue trade talks, says Romualdez

ASEAN Summit 'excellent venue' for Marcos to pursue trade talks, says Romualdez

Published Sep 5, 2023 08:43 am

At A Glance

  • The 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia is a excellent opportunity for President Ferdinand "Bongbong" Marcos, Jr. to boost trade and investment between the Philippines and its ASEAN neighbors. 

20230705_101244.jpgHouse Speaker Martin Romualdez (left), President Ferdinand "Bongbong" Marcos Jr. (Speaker’s office, MANILA BULLETIN)

 

 

 

 

 

 

The 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia is an excellent opportunity for President Ferdinand "Bongbong" Marcos Jr. to boost trade and investment between the Philippines and its ASEAN neighbors. 

“The ASEAN Summit provides an excellent venue for President Marcos to showcase the distinct advantages the Philippines has as a trade and investment hub so as to create more jobs and business opportunities for the Filipino people," House Speaker Martin Romualdez said in a statement Tuesday, Sept. 5. 

Romualdez, leader of the 311-member House of Representative, is part of Marcos' official delegation to the summit. 

He said that thanks to recent legislative reforms such as the amendment to the Public Service Act, Foreign Investment Act, and the Retail Trade Liberalization Act, the Philippines can further open itself to the entry of foreign investments as well as incentives for investors under the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). 

Romualdez said that with a projected growth rate of 4.9 percent in 2024, the region continues to see increased intra-ASEAN trade and an influx of foreign direct investments. 

“The steady recovery of the region from the pandemic and its improving macro-economic fundamentals amid geo-political headwinds makes ASEAN a favored destination of foreign investments and the Philippines can capitalize on this trend for the benefit of our people,” said the Leyte 1st district congressman. 

He noted that in addition to the 43rd ASEAN Summit, the Jakarta gathering of regional leaders would also include related summits of ASEAN with dialogue partners such as the United States, China, Canada, Japan, South Korea, as well as with the United Nations. 

“These engagements are important venues for the President to also promote our national interest,” Romualdez said. 

The Philippines is a founding member of the regional bloc.

Related Tags

ASEAN Summit Ferdinand Bongbong Marcos Martin Romualdez jakarta
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