Marcos Jr. sees Australia's SEA Economic Strategy benefiting PH economy

President Ferdinand Marcos Jr. expressed optimism that Australia's Southeast Asia Economic Strategy to 2040 will benefit the Philippine economy, enhance its resilience, and align with existing trade agreements like AANZFTA and RCEP.

He welcomed Australia's increased interest in investing in the Philippines, a nation poised to lead ASEAN's economic growth this year.

The Philippines and Australia are set to collaborate on critical infrastructure security in transport and telecommunications, alongside developments in mineral resources, energy transition, and space science.

An agreement on cyber and critical technology cooperation has been recently signed to ensure the secure and peaceful use of cyberspace.

President Marcos also invited Australia to invest in the Philippines' green-economy initiatives, particularly in agriculture, infrastructure, health, tourism, and the digital economy.

He highlighted the importance of enhanced cooperation among like-minded partners to build resilience.

The President noted that the second protocol to the ASEAN, Australia, and New Zealand Free Trade Agreement, signed last month, will benefit MSMEs and boost digitalization efforts in member countries.