A report card of our first year as Strategic Partners

Dear Friends,

Today marks one year since President Marcos and Prime Minister Albanese upgraded ties between the Philippines and Australia to a Strategic Partnership. I want to report back to you on what we have achieved together. I can honestly say it has been a productive 12 months of turning our words of commitment into real action. The kind of action that creates a positive impact on the lives of many.

As Strategic Partners we have been building our trade and investment relationship, which is not as vibrant as it should be. Over 250 Australian companies are already invested here. Collectively they are employing over 44,000 Filipinos and having a positive impact by enhancing skills, driving tech transfer and creating new jobs. But we can do so much better. We continue to actively explore investment opportunities here in agrifood, education, infrastructure, resources and energy. I would personally love to see more Australian goods on the shelves and more Australian companies partnering with the Philippines to drive economic growth.

Australia wants the Philippines to reach its ambition to be an upper middle income economy by 2025. After all, we know that economic power equals strategic power. We are being both a supportive and practical partner. For example, this week we hosted a high-level business mission led by Macquarie Group CEO Shemara Wikramanayake. The Australian business delegation represented our major institutional funds and leading corporates. And they can potentially bring more capital and expertise to deliver complex nation building infrastructure and productivity enhancing agricultural projects for the Philippines.

The Australian Government itself is investing in inclusive programs that are responsive to this country’s development needs. For example, we’ve been working with the Philippine Government to design an innovative economic development program worth P1.7 billion over the next five years.

We are also contributing to the prevention and control of diseases. For example, Australia supported the launch of a Tuberculosis Knowledge Hub in Manila to support the uptake of innovative TB treatment. Better public health administration is another area