After President Rodrigo Duterte’s announcement that the Philippines will separate from the United States in terms of military and the economy, the President’s economic managers said that ties with the West will be maintained as the country pursues regional economic integration.
A joint statement issued by Finance Secretary Carlos Dominguez III and National Economic and Development Agency (NEDA) Director General Ernesto Pernia on Thursday, October 20, said that the speech delivered by Duterte during the Philippines-China Trade and Investment Forum at the Great Hall of the People was with the intention of having an Asian economic integration.
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“The Cabinet will move strongly and swiftly towards regional economic integration. This is why the president prioritized foreign trips to ASEAN and Asia,” it said in their statement.
They also said that China already gave their word in opening its capital markets and that ASEAN countries have expressed interest in integration but denied that ties with the US will completely be cut.
“We will maintain relations with the West but we desire stronger integration with our neighbors. We share the culture and a better understanding with our region,” they said.
Duterte made an “official announcement” about his separation from the United States both in military and economics, telling China that he will be dependent on them because of this separation but that the Philippines will also be willing to help if needed.
Source: (gmanetwork.com)
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