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PIA Press Release
2007/04/23

PGMA delighted with growth of China and India to add to economic power of Japan - Bunye

Manila (23 April) -- President Gloria Macapagal-Arroyo has expressed delight at the growth of China and India, saying the two countries' economic and political might coupled with the "power" of Japan will directly benefit the Philippines and the Asian region, according to Press Secretary and Presidential Spokesperson Ignacio R. Bunye.

In his column "The View From the Palace" which comes out Monday, Bunye said the President cited the three countries' growth in her keynote speech Saturday at the Boao Forum for Asia (BFA) which was held in the southern Chinese province of Hainan.

"As President of the Philippines and as Chair of the ASEAN (Association of Southeast Asian Nations), the President is delighted with the growth of China and India to add to the power of Japan in the region," Bunye said.

Quezon City (23 April) -- "The Philippines benefits from this growth and it can only lift up our nation as it lifts up others too," he added.

Quezon City (23 April) -- In her speech, the President emphasized that as China and India eventually grow into political and economic giants, "their obligations to their neighbors will increase and separate from their own obligations to their citizens."

Quezon City (23 April) -- "Ascendance onto the world stage carries implications not just for economic development, but for management of our environment on a sustainable basis and for sustaining broader peace and stability in the region and the world," she said.

As chair of the ASEAN, the President pushed for greater economic integration between Southeast Asia and the robust economies of China, India and Japan.

She welcomed the surge in economic growth of the three countries as a healthy development for the Philippines and the region as a whole.

"The internal market demands and domestic consumption of these nations are having a direct and positive impact on our nation in terms of job creation, investment and balance of trade," she said.

During her 12-hour whirlwind trip to Boao, President Arroyo secured nearly a billion dollars worth of new Chinese investment deals for the Philippines. (PIA) [top]

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