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Manila Bulletin devider Philippines devider National devider Marcos pitches for ASEAN regional economy, rules-based trade

Marcos pitches for ASEAN regional economy, rules-based trade

Published Sep 5, 2023 07:15 am

At A Glance

  • Marcos said ASEAN is poised to improve its macroeconomic fundamentals in the face of a prolonged geopolitical and socioeconomic challenge that impacts the region and the world.
  • He noted the region's projected growth rate of 4.9 percent in 2024 and a steady rise in intra-ASEAN trade and foreign direct investment (FDI) inflows.
  • According to Marcos, the ASEAN should prioritize improving access to safe and secure digital learning opportunities, fostering digital literacy, and developing transferable skills.

JAKARTA, Indonesia — President Ferdinand “Bongbong” Marcos Jr. has committed that the Philippines will maintain the Association of Southeast Asian Nations (ASEAN) as a competitive and integrated regional economy as he pushed for a rules-based trade system.

President Ferdinand ‘Bongbong’ Marcos Jr. (ASEAN Media Center)
President Ferdinand ‘Bongbong’ Marcos Jr. (ASEAN Media Center)

Marcos said this in his intervention during the Plenary Session of the 43rd ASEAN Summit and Related Summits here on Tuesday, Sept. 5.

In his remarks, the President said that ASEAN is poised to improve its macroeconomic fundamentals in the face of a prolonged geopolitical and socioeconomic challenge that impacts the region and the world.

He noted the region's projected growth rate of 4.9 percent in 2024 and a steady rise in intra-ASEAN trade and foreign direct investment (FDI) inflows.

"Key to our integration efforts is facilitating a rules-based multilateral trading system that is open, free, and fair. To further expand mutual trade, we should continue efforts at enhancing ASEAN connectivity and supply chains," Marcos said.


Women, PWD, OFW

During his intervention, President Marcos emphasized that the people should always be at the heart of ASEAN's community-building, highlighting the need to empower the marginalized and the vulnerable.

“We must continue to prepare our people, especially the marginalized and the vulnerable, such as the women and the persons with disabilities in business, for the digital future. The citizens of ASEAN should reskill and upskill to maintain their leading roles in our economies,” he said.

“Let us ensure that our digital infrastructure enables broad and uninterrupted access, as the provision of our public services has shifted to digital platforms," he added.

According to Marcos, the ASEAN should prioritize improving access to safe and secure digital learning opportunities, fostering digital literacy, and developing transferable skills.

He likewise highlighted the importance of the Regional Comprehensive Economic Partnership (RCEP) in increasing production and strengthening the supply-chain resiliency and bolstering the capability of micro, small, and medium enterprises (MSMEs), and start-ups in the digital and creative economies.

Related Tags

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