De Venecia also batted for Australia and New Zealand to become part of the projected political nad economic integration of Asia as he proposed an ASEAN plus three (China, Japan and Korea) plus two grouping to prevent the two nations from being isolated from the rest of Asia.
De Vencia’s other proposal focused on the organization of a Philippine-Austraian Fund to be funded by successful Australian banks and some 200,000 Filipinos living Down Under for mobilization in the Philippines and in Australia.
The House leader spoke last week before the Australian-New Zealand Chamber of Commerce during their monthly meeting in which Australian Ambassador to the Philippines Ruth Pearce headed a top-heavy guest list of business and political dignitaries.
His expanded ASEAN Plus 3 Plus 2 proposal would now expand de Venecia’s origional idea which he unveiled three eyars ago when he called for an eventual Asian political and economic integration using the European experience as a model.
His expanded proposal recognizes that two modern South Pacific countries are closer to Asia than to the two Americas.
On the proposed Philippine-Australian Fund, de Vendcia said th Fund could be invested in the Philippines and abroad, he said.
NOting the Philippines’ 4.5 million housing backlog, de Venecia said building 250,000 low-cost houisng units for the Filipino poor using Philippine housing components backed by Austalian export credits would help ease the growing shortage.
The Speaker also identified four railway lines n which he said Australian railway technology woudl be most welcome to rebuild the PNR and make available affordable rail transport to millions of Filipinos who could be dispersed from the highly urbanized areas prone to pollution and traffic, among other social problems.