Aquino vows to honor all international obligations

President Benigno Simeon Aquino III assured the international community that his administration will honor all of its obligations to the global community and make the Philippines an attractive investment site. At the 43rd Association of South East Asian Nations (ASEAN) Foundation Day at the Department of Foreign Affairs (DFA) on Monday, Aquino vowed to honor all international obligations that his government would enter into without compromising national interests. “A Philippines that harmonizes its national interests with its international responsibility is a nation that can earn and maintain its dignity and self-respect, whether on a bilateral or a multilateral level," Aquino said. “We can achieve this by making sure that our country is a predictable and consistent place for investments." During her term, former President and now Pampaga Rep. Gloria Macapagal-Arroyo, has canceled government contracts with at least two foreign companies, the German airport builder Fraport AG, and Chinese telecommunications firm ZTE. Stung by the Arroyo government’s decision to rescind the contracts, Germany and China downgraded their economic and political ties with the Philippines. Aquino noted that the “security and well being of Filipinos throughout the world will be best protected if the country enjoys international amity." “That amity will be fostered by our ability to honor contracts and give due protection to investors," Aquino said. Aquino added that his government will be more committed to enhancing its ties with Southeast Asian nations. Aquino said his administration will also support the ASEAN in fostering the economic and political interests of its member countries. He hopes to achieve this goal by 2015, a year before he steps down from office, by participating in regional discussions and abiding by the Asean declaration on the code of conduct in the disputed South China Sea. The President said he will ensure that free trade agreements forged by the country will remain in place as they promote employment and expand the market for Philippine goods and those of other nations. Aquino also said he will continue to support the ASEAN regional connectivity master plan involving transport, infrastructure, information and communications technology, energy power grid, and tourism. He also mentioned that the country can promote culture and the arts, which he called as “the greatest antidote to war." “ The most effective instrument of peace and mutual understanding is cultural exposure and cooperation. A new generation of increasingly prosperous citizens in our respective nations are interested in getting to know their neighbors. With this curiosity comes a greater understanding amongst our peoples over the long term that would strengthen cooperation on several fronts – political, economic and social," Aquino said. “There is much work to do and there is very little that can stand in our way so long as our governments and our peoples grow in our understanding, increased cooperation and share the fruits of our hard work and dedication," he added. –VVP, GMANews.TV