PGMA's Opening Statement during a Roundtable with U.S. Media

Carnegie Room, Waldorf Astoria Hotel New York City, U.S.A. (21 May 2003)
WELL, I DON'T WANT TO GIVE VERY FORMAL OPENING REMARKS. I JUST WANT TO BEGIN SAYING A FEW THINGS AND I'D LIKE TO ENCOURAGE YOU TO INTERRUPT IF SOMETHING I SAY PROPELS YOU TO ASK A QUESTION. BUT THIS IS MY WAY OF JUST BREAKING THE ICE AND BEGINNING TO SET THE TONE OF WHAT I THINK WE SHOULD BE TALKING ABOUT.

I'M VERY HAPPY TO BE HERE AND I FEEL THAT THE COUNTRY HAS BEEN HONORED WITH A STATE VISIT THAT WAS PREPARED BY PRESIDENT BUSH. I THINK IT'S A GOOD TIME TO THEREFORE CHARACTERIZE THE RELATIONSHIP NOT ONLY BETWEEN THE PHILIPPINES AND THE UNITED STATES BUT ALSO THE RELATIONSHIP BETWEEN THE PHILIPPINES AND THE WORLD AS WE ARE IN OUR FIRST YEARS OF THE 21st CENTURY.

TOWARDS THE END OF THE LAST CENTURY, YEAR 2000 AND COUPLE OF YEARS BEFORE THAT, THE PHILIPPINES WAS A PICTURE OF GREAT CYNICISM AMONG THE PEOPLE AND DISENGAGEMENT FROM THE WORLD AMONG THE OFFICIALDOM. TODAY, THE PHILIPPINES IS EMERGING FROM THAT KIND OF SCENARIO AND I THINK THIS VISIT SHOWS THAT WE ARE BACK. WE ARE BACK AND THAT'S THE MESSAGE THAT I'D LIKE TO GIVE.

AS FAR AS THE PHILIPPINES AND THE UNITED STATES IS CONCERNED WHEN I SAY WE ARE BACK I SAY WE ARE TALKING... WE'RE RENEWING OUR GOOD RELATIONS WITH THE UNITED STATES BUT NOT IN THE SAME OLD WAY. IT'S THE 21st CENTURY NOW AND IT IS TIME TO DEFINE THAT ALLIANCE AS A NEW AND MODERN ALLIANCE SUITABLE TO THIS CENTURY. AND THIS ALLIANCE IS IMPORTANT ESPECIALLY FOR ME AS THE PRESIDENT OF MY COUNTRY BECAUSE A NEW MODERN ALLIANCE WITH THE UNITED STATES IS SOMETHING THAT IS IMPORTANT TO OUR NATION THAT IT SHOULD COVER A WHOLE RANGE OF ISSUES AND CONCERNS THAT CHARACTERIZE OUR 21st CENTURY. THERE IS SECURITY, REGIONAL STABILITY, TRADE AND INVESTMENT, ECONOMIC REFORM, GOOD GOVERNANCE MEASURES, TO NAME A FEW.

WHEN I MET WITH PRESIDENT BUSH AT THE WHITE HOUSE LAST MONDAY, ONE OF THE CLEAREST THINGS THAT EMERGED IS THAT WE DO HAVE A VERY STRONG RELATIONSHIP WITH EACH OTHER TODAY. I AM VERY HONORED TO HAVE BEEN SO FAR THE ONLY ASIAN HEAD OF STATE TO BE GIVEN A STATE VISIT BY THE BUSH PRESIDENCY. I THINK THAT'S A VERY STRONG STATEMENT ABOUT THE RELATIONSHIP BETWEEN OUR TWO COUNTRIES AND PEOPLES. AND IN THIS STRONG RELATIONSHIP AS I SAID, PRESIDENT BUSH AND I, HAVE BEEN DEVELOPING A MODERN FRAMEWORK THAT SHOULD BE GUIDING THE RELATIONSHIP OF OUR COUNTRIES FOR THE 21st CENTURY, FOR THE DECADES TO COME. THE RELATIONS BETWEEN OUR TWO COUNTRIES WERE ADRIFT FOR AWHILE. BUT I THINK THEY ARE BACK ON TRACK AND STRONGER THAN EVER.

TO ME -- ALL THESE REDEFINING RELATIONSHIPS, STRENGTHENING THEM, REVITALIZING THEM, MAKING THEM MORE MATURE -- TO ME, AT THE END OF THE DAY, ALL THESE IS ABOUT MY GOAL OF FIGHTING POVERTY IN THE PHILIPPINES. AND OF COURSE, I CANNOT FULFILL MY GOAL OF WORKING TO FIGHT POVERTY WITHOUT FOCUSING ON THE ECONOMY. SO AT THE END OF ALL OF THESE, THE FOCUS IS REALLY ON THE ECONOMY. THE FIRST TWO YEARS OF MY ADMINISTRATION WERE DEVOTED TO MAKING FUNDAMENTAL REFORMS ON THE ECONOMY. THEY WERE DEVOTED TO STRENGTHENING THE INSTITUTIONS OF OUR REPUBLIC, TO STRENGTHENING OUR MACRO-ECONOMIC FUNDAMENTALS. AND THAT'S WHY I'M GLAD THAT SECRETARY OF FINANCE LITO CAMACHO IS HERE BECAUSE HE WAS THE LEAD CHARACTER IN THE STRENGTHENING OF THE ECONOMIC FUNDAMENTALS. WE'VE MOVED TO LOWER INFLATION BECAUSE AS FAR AS THE PEOPLE OF THE PHILIPPINES ARE CONCERNED THE BOTTOMLINE IS HOW MUCH DO THEY HAVE TO PAY FOR FEEDING THEMSELVES. WE HAVE MOVED TO STRENGTHEN THE PESO. WE'VE MOVED FOR MACRO-ECONOMIC STRUCTURAL REFORMS WHICH REQUIRED LEGISLATIONS, WE'VE ACHIEVED A NUMBER OF THEM. WE'RE MOVING MORE TOWARDS... WE'RE MOVING FURTHER TOWARDS PRIVATIZATION BECAUSE THAT'S REALLY THE CHARACTERISTIC OF A MARKET ECONOMY, AND MORE.

AND THAT'S WHAT I'VE BEEN DOING ON THE PURELY ECONOMIC AREA. BUT BECAUSE THE OVERRIDING CONCERN IS TO FIGHT POVERTY, WHICH IS BASICALLY AN ECONOMY PROBLEM, EVEN MY FOREIGN RELATIONS POLICY, MY FOREIGN POLICY IS ALL ABOUT THAT, IT'S ALL ABOUT SERVING THE FIGHT AGAINST POVERTY IN THE PHILIPPINES. AND THAT IS WHY IN THE SERVICE OF FIGHTING POVERTY IN THE PHILIPPINES I STRENGTHENED PHILIPPINE ALLIANCES THROUGH AGGRESSIVE DIPLOMACY, SUCH AS WHAT I DID IN WASHINGTON.

PART OF MY ECONOMIC PLAN ALSO IS THE RECOGNITION THAT WE HAVE TO WIPE OUT TERRORISM IN THE PHILIPPINES IF WE ARE TO FOCUS OUR RESOURCES TO HELP IN IMPROVING THE LIVES OF OUR POOR. SO, WE DON'T FIGHT FOR THE SAKE OF FIGHTING. WE ARE FIGHTING BECAUSE WE WANT TO ULTIMATELY FREE UP OUR RESOURCES TO FIGHT POVERTY RATHER THAN SOME INDIVIDUAL.

AND IN SEEKING TO WIPE OUT TERRORISM IN THE PHILIPPINES, THE U.S. IS AN IMPORTANT ALLY IN RESTORING PEACE AND ORDER ON MANY LEVELS. THAT'S ONE PART OF MY TRIP, THE SECURITY PART. BUT BECAUSE POVERTY IS MY OVERARCHING CONCERN, THE OTHER PART OF MY TRIP IS BUSINESS AND INVESTMENT PROMOTION. EVERY SINGLE TRIP THAT I TAKE ALWAYS INCLUDES A BUSINESS... AN INVESTMENT PROMOTION COMPONENT, BUSINESS AND INVESTMENT PROMOTION COMPONENT.

FOR TODAY, WHAT I DID THIS MORNING WAS TO LAUNCH A NEW BUSINESS PROCESS OUTSOURCE INITIATIVE, AND MAR ROXAS WAS IN-CHARGE OF THAT, MY SECRETARY OF TRADE AND INDUSTRY. I THINK BECAUSE YOU ARE BUSINESS WRITERS AND EDITORS MANY OF YOU KNOW THAT THE PHILIPPINES IS RAPIDLY BECOMING A PREMIER DESTINATION FOR OUTSOURCING.

PEOPLE ARE OFTEN SURPRISED TO KNOW JUST HOW MUCH THE PHILIPPINES HAS EVOLVED INTO SOMETHING GLOBAL -- A GLOBAL COUNTRY, A GLOBAL ECONOMY. I LIKE TO PUT IT THIS WAY, I'M NOT JUST THE HEAD OF STATE OF OVER 80 MILLION FILIPINOS, I'M ALSO IN SOME WAY THE CEO OF A GLOBAL ENTERPRISE, A PHILIPPINE GLOBAL ENTERPRISE OF 8 MILLION PHILIPPINE WORKERS IN OVER A 140 COUNTRIES GENERATING BILLIONS OF DOLLARS A YEAR FOR THEMSELVES, THEIR EMPLOYERS AND ALSO FOR THEIR FAMILIES IN THE PHILIPPINES. THAT SAID, I RECOGNIZE THAT THERE ARE STILL MANY ECONOMIC AND SOCIAL CONCERNS THAT WE HAVE TO DEAL WITH. TERRORISM, OF COURSE, IS SOMETHING THAT THE WORLD HAS BEEN LIVING WITH FOR THE LAST... FOR THIS FIRST YEARS OF THIS NEW CENTURY. AND IF WE TALK ABOUT TERRORISM, WHAT I CAN SAY IS THAT WE ARE COMING TO GRIPS WITH TERRORISM IN THE PHILIPPINES. THE THREAT OF THE ABU SAYAFF DIMINISHES BY THE DAY. NONETHELESS, THE WORLD IS STILL FERTILE GROUND FOR TERRORISTS. THE REGION IS STILL FERTILE GROUND FOR TERRORISTS. SOME OF THEIR WEAPONS ARE BOMBINGS LIKE WHAT THEY'VE DONE RECENTLY IN RIYADH. OTHER WEAPONS ARE KIDNAPPING AND THAT'S OF COURSE SOMETHING THAT MAKES BUSINESSMEN VERY NERVOUS. AND SO WE CONTINUE TO ADDRESS THE ISSUE, THE THREAT OF TERRORISM VERY AGGRESSIVELY AND PROACTIVELY.

ANOTHER CHALLENGE IS THE BUDGET DEFICIT. BUT GIVEN THE PERFORMANCE OF OUR FISCAL SECTOR IN THE FIRST ONE-THIRD OF THIS YEAR, WE'RE VERY BULLISH ON THE ABILITY OF OUR GOVERNMENT TO WORK TOWARDS OUR BUDGET DEFICIT MOVING QUICKLY TO AN ACCEPTABLE LEVEL AS A PERCENTAGE OF GNP. OUR VITAL SIGNS... WELL, ALL OUR VITAL SIGNS ARE NOW STRONG. AND THESE VITAL SIGNS I'M SURE WILL HELP GENERATE THE STABILITY THAT WE NEED TO CONTINUE TO TACKLE THE DEFICIT FROM A POSITION OF STRENGTH AND SUSTAINABLE DEVELOPMENT.

ANOTHER CHALLENGE IS STRUCTURAL REFORM, LONGER TERM REFORM. WE'VE HAD EARLY SUCCESSES AS WE ARE REVAMPING OUR ECONOMIC OUTLOOK INCLUDING STRENGTHENING BANKING LAWS, MONEY LAUNDERING LEGISLATION, A RENEWED STOCK EXCHANGE, REVENUE COLLECTION REFORM. BUT NOW WE'RE GOING TO BE WORKING ON TAXATION AND ANTI-CORRUPTION REFORMS.

IN SUM, WHAT I'D LIKE TO SAY AND COMMUNICATE IS THAT THE PHILIPPINES HAS EMERGED AS A STRONGER ECONOMY BUILT ON A MORE VIBRANT SET OF STRUCTURAL REFORMS. YES, IT HAS MORE TO ACCOPLISH BUT CERTAINLY WE KNOW AND WE RECOGNIZE THAT WE MUST FOCUS ON THE ECONOMY MORE THAN AT ANY TIME IN THE PAST.

THANK YOU.

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