Home / Editorial / Hope for uplift of impoverished Filipinos buoyed by APEC summit outcomes

Hope for uplift of impoverished Filipinos buoyed by APEC summit outcomes

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Tempered by experience over the past year and a half, President Ferdinand R. Marcos, Jr. participation in the 30th Asia Pacific Economic Cooperation (APEC) Summit in San Francisco demonstrated a keener appreciation of the nuances of top-level diplomacy.

Although it was a brief conversation at the sidelines – and not a full-scale bilateral meeting – his interaction with President Xi Jinping became a focal point of attention, coming on the heels of the Philippines’ protest over China’s untoward actions in the West Philippine Sea, the latest of which occurred on Oct. 23 as a Philippine Coast Guard vessel was on a resupply mission in Ayungin Shoal. The Department of Foreign Affairs (DFA) pointed out that the country has filed a total of 465 protests against China since January 2020; out of these, 122 were lodged during the Marcos administration, of which 55 were made in 2023.

The two leaders agreed that measures need to be taken to reduce tensions arising from these incidents, conceding that this is “work in progress” that will be pursued in the context of the overall bilateral relations which has flourished over the past many decades, dating back to the tenure of former President Ferdinand E. Marcos, Sr.

In a press briefing, the President expressed satisfaction with the summit’s outcome: “I think that it was a very successful meeting…Many of the major economies of the world were represented here and there was a very noticeable concurrence amongst different countries – big, small, rich, not so rich – as to what are the ways to move forward. We talked about climate change…artificial intelligence (AI), food security, energy security, and what part each of us can play in facing those challenges (posed by)  the new world economy.”

President Marcos also graced the Philippine Economic briefing at which his economic managers discussed investment opportunities arising from the country’s post-pandemic economic recovery program, its efforts to attain upper-middle income status, and continuing programs to attain a greater measure of resilience and sustainability.

Also signed at the San Francisco summit was the PH-US nuclear power cooperation agreement which provides access to nuclear technologies supplied by American companies. Meralco and Ultra Safe Nuclear Cooperation signed an exploratory agreement on micro-modular reactors. According to Energy Secretary Raphael Perpetuo Lotilla, this “facilitates bilateral cooperation in a wide array of other peaceful uses of atomic energy including plant breeding, livestock production, insect pest control, soil and crop management, water use efficiency, plastic waste disposal, food safety, health and medicine.” Relatedly, the country signed up with US firms Astranis and Orbits on the installation of satellite-enabled internet connectivity in unserved and underserved areas.

The President also reported a unique tie-up with social media platform TikTok.  He was informed by the TikTok chief executive officer that they could train local sellers in the rural areas to develop and market their products, as they are presently doing in Indonesia, Malaysia and Vietnam.

Hopefully, the fruits from the country’s participation in the APEC summit will be harvested in terms of enhanced employment and economic opportunities that will enable millions of impoverished Filipinos to attain a measure of sufficiency and decent living.

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Credit belongs to: www.mb.com.ph

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