Philippines hosts HLCMIC, adopts 'Makati Declaration'

The Philippines is hosting the High-Level Conference of Middle-Income Countries in Makati, marking the first time the meeting is held in Asia.

Philippine Foreign Affairs Secretary Enrique Manalo highlighted the importance of sustained dialogue and concrete strategies to support middle-income countries' growth amid global uncertainties, emphasizing the need to move beyond GDP as a sole measure of development.

Representatives from 105 middle-income countries are addressing challenges such as new trade policies, geopolitical risks, and climate change, affecting 75 percent of the world's population and a third of global GDP.

The conference resulted in the adoption of the 'Makati Declaration,' which calls for the establishment of a high-level expert group to develop recommendations on sustainable development indicators.

Department of Economy Planning Secretary Arsenio Balisacan noted that while the Philippines is set to become an upper middle-income country by 2026, it remains cautious about global economic uncertainties and challenges, emphasizing the need for dynamic actions to foster resilience and innovation.

United Nations Under-Secretary-General Armida Salsiah Alisjahbana highlighted the timeliness of the conference in addressing current global challenges affecting middle-income countries, noting their significant role in sustainable development.

The high-level conference concluded on Tuesday, April 29, 2025, with a focus on developing new measures of growth and sustainability beyond traditional GDP metrics.