PH, Australia keen on leveling up trade ties, partnership

Hae Kyong Yu — Australian embassy WEBSITE

MANILA  -The Philippines and Australia are revving up efforts to strengthen cooperation in various sectors, especially transportation, mineral resources and agriculture technology, encouraged by the issuance of the rules implementing the law that liberalizes key public service businesses.

The National Economic and Development Authority released the implementing rules of the amended Public Service Act on March 20 and they will be in force starting April 4.

The amended Public Service Act has allowed full foreign ownership of businesses in industries such as airports, railways, toll roads, expressways and telecommunications.

Neda issues rules on public utilities liberalization

On March 24, finance officials met with Australian diplomats and discussed possible partnerships in the privatization of airports in the Philippines as well as the development of the mining and agriculture sectors.

The meeting was held in conjunction with Canberra’s launch of its Partnerships for Infrastructure initiative in the Philippines, which offers expertise in prioritizing, planning and procurement related to projects.

Hae Kyong Yu, Australia’s ambassador to the Philippines, said her government was hoping to drum up interest among Australian companies in the possible privatization of airports in the Philippines.

Nicholas Moore, Canberra’s special envoy to the Association of Southeast Asian Nations, said the Philippines can learn from the successful privatization of Sydney Airport in 2002.

Moor said privatization has the potential to deepen the contribution of airports to economic activity through increased freight capacity and more links to the rest of the world.

Australia offers help to accelerate Philippine infra development

Meanwhile, Finance Secretary Benjamin Diokno said the two countries may also look into cooperation in mining, particularly in sharing best practices in taxation, engagement with mining communities and mining technologies.

Yu said the Australian government was currently working with the Department of Environment and Natural Resources and Philippine mining companies on a series of learning tours to Australia.

“With [Philippine Airlines] opening direct flight services to Perth, I am thrilled to be joining [one of the planned field trips],” Yu said.

On agriculture, Moore said the Philippines may explore opportunities to tap into Australian expertise in agriculture technology and the use of renewables in power distribution, which is relevant in modern farms.

With 77 years of diplomatic relations, cooperation between the Philippines and Australia covers trade, investment, defense, security and development. INQ