Speaker Ferdinand Martin Romualdez hailed President Ferdinand Marcos Jr. for vigorously promoting the national interest by focusing the spotlight on observance of rules-based order and peaceful resolution of disputes during the ASEAN-Australia Special Summit, amid escalating tension in the West Philippine Sea.
Romualdez also congratulated Marcos for securing an impressive $1.53 billion or P86 billion worth of investment from 12 business deals signed on the sidelines of the summit.
“These investments not only signify confidence in the Philippine economy but also pave the way for enhanced economic cooperation between our nations. In addition, the realization of these business agreements would create more jobs and livelihood opportunities for our people,” he stressed.
Romualdez is also optimistic that the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) will open tremendous business opportunities for Filipino entrepreneurs in micro, small, and medium enterprises (MSMEs).
Marcos announced during the leaders’ plenary in the summit that the Philippines has recently signed the second protocol to the AANZFTA.
The President said he is confident the AANZFTA will continue to respond to the evolving multidimensional challenges in the business environment, and complement region-to-region efforts to strengthen supply chain resilience, the expansion of trade and investment, inclusivity and sustainable development.
Romualdez, leader of the 300-plus strong House of Representatives, also cited Marcos’ initiatives that bolstered the strategic alliance between the Philippines and Australia, and contributed significantly towards enhanced engagement between Australia and ASEAN member-states.
“During the summit, President Marcos reaffirmed the strategic alliance between the Philippines and Australia, emphasizing the shared values and mutual interests that bind our nations together. This reaffirmation underscores the importance of fostering robust partnerships in the face of evolving geopolitical challenges,” Romualdez, who was part of the official Philippine delegation to the summit, said in a press release March 6.
“At a time of escalating tensions and provocative actions by China, Marcos’ call for adherence to a rules-based order and peaceful resolution of disputes is both timely and crucial. It reaffirms our nation’s commitment to promoting stability and security in the region through dialogue and cooperation,” he added.
On Tuesday, Chinese coast guard ships fired water cannon, shattering the windshield of one of the Philippine vessels on a resupply mission to Ayungin Shoal, causing minor injuries to at least four crew members.
According to the Philippine Coast Guard, the “reckless” and “illegal” actions of the Chinese Coast Guard likewise led to a collision between a Chinese and Philippine ship, with the latter sustaining minor structural damage.
In his statement during the “Leaders’ Plenary Session” at the summit, Marcos thanked Australia for its support for ASEAN and for continuing its positive role in ensuring peace and stability in the Indo-Pacific region.
Marcos also expressed gratitude to Australia for consistently supporting the rule of law, the 1982 United Nations Convention on the Law of the Sea (UNCLOS), and the 2016 Arbitral Award that invalidated China’s sweeping claims over the South China Sea.
Romualdez noted that during the recent two-day state visit of Marcos to Australia, three key agreements between the two countries were signed, including one on enhanced interoperability in maritime domain and maritime environment.
“This agreement holds paramount importance, particularly in the face of escalating provocative actions by China in the South China Sea. By solidifying this pact, Marcos has underscored our nation’s unwavering commitment to upholding maritime security and safeguarding the interests of all nations in the region,” Romualdez stressed. ||
