Department of Trade and Industry (DTI) Secretary Alfredo Pascual said that he has joined the delegation headed by President Ferdinand Marcos, Jr. in the Association of Southeast Asian Nations (ASEAN)-Australia Special Summit Leaders’ Plenary.

During the plenary session, President Marcos cited efforts of the Philippine government, including the recent signing of the Second Protocol to Amend the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA).

They also look at the full implementation of the Regional Comprehensive Economic Partnership (RCEP). 

The initiatives were aimed to usher in an even more robust cooperation and maximize the country’s gains from the growing regional trade and investment between ASEAN, Australia, and New Zealand.

Likewise, the President noted that the government’s initiatives complement Australia’s Southeast Asia Economic Strategy to 2040.

This broadens economic ties between ASEAN and Australia. 

This strategy of the Australian government also identifies four key sectors as investment priorities in the Philippines—agriculture and food, education and skills, resources, and green energy transition.