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Manila Bulletin devider Philippines devider National devider Philippines-Australia P86-B deal 'step closer' to ensuring national security, economic growth, expert says

Philippines-Australia P86-B deal 'step closer' to ensuring national security, economic growth, expert says

Published Mar 15, 2024 05:57 am

An international think tank believes that the P86-billion business deals forged by the Philippines and Australia are key to ensuring the country's national security and economic growth.

BBM Australia visit.jpg
President Ferdinand 'Bongbong' Marcos Jr. and Prime Minister Anthony Albanese(Photo courtesy of Malacañang)

Stratbase Institute President Dindo Manhit said the two countries "took one step closer" to realizing national security and economic growth by signing the 12 business deals at the sidelines of the Association of Southeast Asian Nations (ASEAN)-Australia Special Summit in Melbourne last week.

"The Stratbase ADR Institute believes that 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,” Manhit said.

Manhit noted that the deals encompass investments in renewable energy, waste-to-energy technology, organic technology, countryside housing initiatives, establishment of data centers, manufacturing of health technology solutions, and digital health services.

“These agreements concretize the unwavering commitment of the two countries in reinforcing their strategic partnership. It is a testament to the fact that the Philippines and Australia find a long-standing partner in each other,” he said.

“The Institute is confident that together, the Philippines and Australia will pave the way towards a more prosperous Indo-Pacific region,” he added.

Earlier, the think tank also stated that the Philippines' cooperation with Australia is crucial in ensuring peace and stability in the Indo-Pacific region.

This as President Marcos and Australian Prime Minister Anthony Albanese also signed three agreements aimed at enhancing interoperability in maritime domain and maritime environment, cyber and critical technology, and investigative techniques for the implementation of competition laws.

"At the core of this strengthened relationship between the two countries is a shared belief in the rules-based international order, one that is furthered by multilateralism intended to sustain peace and stability in the region. The agreements signed during this two-day visit demonstrates 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.

Related Tags

Stratbase ADR Institute Dindo Manhit ASEAN-Australia Special Summit PH-Australia ties business deals
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