DOF: Economy the winner in Asian pivot

In its first six months, the Duterte administration was able to provide Filipinos better access to the regional economy, the Department of Finance (DOF) said.

In a statement, the DOF said on Wednesday the past six months saw intensified cooperation between the Philippine government and development partners to promote financial inclusion as well as regional integration with its Asian neighbors.

The DOF said President Duterte’s visit to Beijing on October highlighted the administration’s bigger push for “stronger integration” with countries such as China, Japan, South Korea and Asean member-states while maintaining “good relations” with Western countries.

“We will maintain relations with the West but we desire stronger integration with our neighbors. We share the culture and a better understanding with our region,” Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Ernesto M. Pernia earlier said.

The DOF was optimistic that the pivot to Asia would open “countless opportunities” for trade and investment to local businessmen. —BEN O. DE VERA