Finance Secretary Benjamin Diokno said Friday the Philippines will establish strategic cooperation, resilient supply chains and solid digital infrastructure among its regional peers in the Indo-Pacific region.
“The Philippines strongly believes that deepening regional integration among our economies is the quickest path to shared prosperity and inclusive growth,” Diokno said in his keynote speech for the Indo-Pacific Business Forum on Jan. 12 at the Peninsula Manila Hotel in Makati City.
The Indo-Pacific region represents 60 percent of the world’s population and two-thirds of global economic growth over the last five years. It is the fastest-growing economic region and is projected to be the largest contributor to global growth over the next 30 years.
President Joe Biden in May 2022 launched the Indo-Pacific Economic Framework for Prosperity with Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam as initial partners.