US, Japan top of mind as PH’s economic partners -survey

MANILA  -The United States and Japan topped the list of countries that the Philippines should strengthen its economic relations with, according to the majority of Filipinos recently surveyed by Pulse Asia, highlighting a policy direction that some analysts agree with given the Southeast Asian country’s long history with these nations.

In the survey conducted by the polling firm from Sept 10 to 14 among 1,200 respondents, the top five countries or groups that were picked when asked for three choices in a list were the US, Japan, Australia, Canada and the European Union (EU).

The US was chosen by 74 percent of the respondents, Japan by 55 percent, Australia by 46 percent, Canada by 40 percent, and the EU by 26 percent.

Outside of the top five are the United Kingdom with 21 percent, China with 19 percent, and India with 4 percent.

Victor Andres C. Manhit, president of the local think tank known as the Stratbase-Albert del Rosario Institute, said that the US and Japan are the Philippines’ largest trading and investment partners, as well as among the biggest sources of remittances.

“You will be surprised that actual government data reflect that China is not our most important trading and investment partner,” Manhit told reporters during a press conference where they announced the survey results.

Asked to comment as well, Ser Percival K. Pena-Reyes, an assistant professor at the Ateneo University’s Department of Economics, shared the same sentiment

“We have a long history with them – culturally, politically, economically. So, why cast those aside?” Pena-Reyes said.

In the same survey, 70 percent of the respondents said the private sector played an instrumental role in ensuring economic security, citing that the top three ways it can help are by making goods more affordable and accessible, creating jobs, and expanding livelihood opportunities.