Noy: Perfect time to host APEC

 MANILA, Philippines - President Aquino believes the Philippines’ hosting of the Asia-Pacific Economic Cooperation (APEC) summit this year is perfectly timed amid the country’s economic achievements that have transformed it from being the “Sick Man of Asia” to “Asia’s Rising Star.”

The Philippines first hosted the APEC summit in 1996.

In an interview with the APEC Secretariat, Aquino was asked why the Philippines chose to host the event this year.

The President said it was because the turnaround in the economy was very apparent now along with “the vibrancy and change in the attitude of our people.”

“When we were offered the opportunity to do so, supported by the APEC economies, we believed that we should already show the fruits of our mantra of ‘good governance is good economics’,” Aquino said.

“We go back to the central core duty of every government which is, the way we phrase it, every government is set up to improve the lot of the people – of their people, their constituencies – and that only happens in a period of stability,” he said.

Aquino said hosting the summit at this particular time will show the fruits of the hard work of his administration which could inspire other countries.

“We believe that it is the right time to show the positive changes that have happened in a relatively short period of time,” Aquino said.

The President said the priorities of government were basically the same – ensuring that people got shelter and food on the table, among other primary needs, only that the population had doubled from 50 million in 1986 to over 100 million today.

Aquino said there had been massive investments in social services, especially in education and health.

He said the only way to concretize the mantra of “inclusive growth” was to invest in human capital, the country’s greatest single resource.

Commonality of problems 

The annual APEC summits provide a great counterbalance to developing nations since this is one economic organization where first-world countries can empathize with them regarding the “commonality” of problems that leaders usually face.

This is also an opportunity where small economies that are under immense pressure into improving the lives of their countrymen can seek guidance from their so-called big brothers in the international community.

“The recognition of the commonality of problems leads to greater cooperation in trying to come up with a better solution,” Aquino said.

The President told the APEC Secretariat that leaders like him also have to consult other heads of state on problems that they could hardly solve. 

“Being at the top of the pyramid sometimes is extremely lonely; there’s no higher office that you can ask help from. When you finally do get a chance to talk to them, you find out that there is commonality of problems,” Aquino said.  – With Delon Porcalla, Evelyn Macairan