Phl, Thailand boost trade

MANILA, Philippines - President Aquino and Thai Prime Minister Yingluck Shinawatra agreed yesterday to boost trade and investment between the Philippines and Thailand amid global economic uncertainties.

Shinawatra congratulated Aquino on the success of the anti-corruption policy under his leadership.

“Thailand is ready to provide support to Thai investors who wish to invest in the Philippines under the public-private partnership (PPP) program,” she told Aquino.

She also said Thailand was ready to export more rice to the Philippines.

On developments that impact on the stability and continued prosperity of the region, Aquino explained the position of the Philippines on the issue of the West Philippine Sea.

“I reiterated our position that a rules-based approach is the only legitimate way to address the disputes in the West Philippine Sea.”

Shinawatra came for a six-hour official visit to celebrate the 63 years of dynamic and fruitful partnership between the two countries.

“The past year has been very uncertain for many countries around the globe. And now, more than ever, it is imperative that we work together to make sure that our region not only stays afloat, but also makes marked progress over the next few years. The challenge for our neighborhood is to maximize our gains, by strengthening trade liberalization and investment facilitation; and it comforts me that we have a partner like Thailand in this endeavor,” Aquino said.

Aquino said he and Shinawatra were pleased with the excellent economic relations of the two countries. Thailand is one of the Philippines’ largest trading partners.

The President said Philippine companies, led by San Miguel Corp., Universal Robina Corp. and Liwayway Food Corp. also have active operations in Thailand.

“This dynamism also extends to our tourism sector. Last year, the Philippines welcomed more than 30,000 Thai tourists, which have a multiplier effect on the economy by stimulating local businesses and creating more job opportunities for our countrymen,” Aquino said.

“Outside of our robust economic engagement, the Prime Minister and I agreed to further expand our functional cooperation in key areas such as education, combating drug trafficking, and disaster risk reduction and management,” he said.

The President said they agreed to continue working toward enhancing the two countries’ excellent partnership and productive engagement both in the bilateral and multilateral arena.

“We both acknowledged the value of regular and sustained policy dialogue and we look forward to Manila’s hosting of the fifth meeting of the Philippines-Thailand Joint Commission for Bilateral Cooperation (JCBC), which will allow us to substantially discuss ways to further strengthen the implementation of our existing cooperation in the areas of energy, agriculture, defense and culture,” he said.

“I am confident that our fruitful and auspicious meeting will contribute greatly to ensuring further benefits to bilateral relations between the Filipinos and Thais,” Aquino said.

For her part, Shinawatra thanked the Philippines for the assistance to the flood victims in Thailand.

“These floods remind us that we must work closely together to protect our people from national disasters,” Shinawatra said.

Shinawatra said they were satisfied with the result of the JCBC, the program on the setting up of the energy forums and cooperation on education, narcotics prevention and transnational crimes.

“We are pleased that the draft convention on the avoidance of the double taxation and the prevention of the fiscal evasion with the respect of the tax and incomes is expected to be signed at the next meeting of the joint commission,” she said.

“Thailand appreciates the Philippines’ high support for Thai investors and willingness to remove some restrictions on trade and investment. Thailand is also ready to export more rice to the Philippines as part of our cooperation on food security,” Shinawatra said.

“Both our two countries reaffirm our commitment to ASEAN communities in 2015 and to promote connectivity in the regions. Together, we hope to create an ASEAN community that is people-centered, centered to the regional architecture and plays important role in global affairs,” Shinawatra said.