‘Hosting of APEC summit showcased Philippine reforms’

MANILA, Philippines - Manila’s hosting of this year’s Asia-Pacific Economic Cooperation (APEC) summit has shown the world the economic breakthroughs achieved under the Aquino administration as well as the best of Filipino talents and hospitality.

“This APEC hosting presents the chance for the Philippines to showcase the results of reform,” Aquino told his fellow world leaders during yesterday’s opening of Retreat I of the 23rd APEC Economic Leaders’ Meeting held at the Philippine International Convention Center. 

He said the country was able to achieve the status as second best performing economy in Asia, next to China. He also cited structural reforms he initiated in the bureaucracy.

“Furthermore, we are proud of our growth not just for growth’s sake, but because the Philippines has set aside trickle down economics and chosen to invest in our people so that our growth is felt by each and every citizen,” Aquino stressed.

“We threw our full support behind programs such as our conditional cash transfer program, training for work scholarships and a universal healthcare program, all of which help our people regain control of their own destinies,” he added.

Aquino said the Philippines’ dealing with APEC has always been guided by a common aspiration for Asia-Pacific prosperity. “It is certainly an opportune time for us to reflect on how to move into the future,” he said.

This is why APEC organizers have chosen the theme: “Building Inclusive Economies, Building a Better World,” which Aquino said “represents our vision for an Asia-Pacific that embraces a growth agenda that benefits everyone.”

“The Philippines hosts APEC with a people-centered agenda that embraces all segments of society as invaluable participants in a growth that is holistic: growth that creates jobs, sends children to school, puts food on the table, raises standards of living, protects the environment, fosters creativity and innovation and levels the playing field,” he said.