TOKYO—Finance Secretary Carlos Dominguez III has lauded Japan as a “true and reliable friend” of the Philippines, which, he said, will continue to depend on this close relationship to help fuel its economic emergence and grand plan to bring its people to prosperity.
Dominguez said that as the Philippines emerges to join the ranks of Asia’s tiger economies, its bilateral ties with Japan have “become closer and stronger.”
He noted that Japan remains the Philippines’ major source of official development assistance (ODA), its main source of infrastructure support, a top export market and one of its most important trade partners.
“The story of Philippine independence, therefore, is also a story of partnership between our two nations. Japan’s willingness to support our development efforts has always been a strong thread running through our nation’s history,” Dominguez said during the diplomatic reception for the 120thanniversary of Philippine Independence held at the Fuji Room of the Imperial Hotel here on Wednesday night (June 20, 2018).
Also in attendance at the reception were Executive Secretary Salvador Medialdea, Yasuo Fukuda, the former Prime Minister of Japan; Taro Kono, Japan’s Minister of Foreign Affairs; Jose Laurel V, the Philippine ambassador to Tokyo; Koji Haneda, the Japanese ambassador to Manila; and Nobuteru Ishihara, chairman of the Japan-Philippines Parliamentarian’s Friendship League.
“Over the past decades, Japan has been a true and reliable friend to the Philippines. It has been a major partner in our own development,” Dominguez said.
Socioeconomic Planning Secretary Ernesto Pernia, Budget Secretary Benjamin Diokno, Transportation Secretary Arthur Tugade, Energy Secretary Alfonso Cusi and Communications Secretary Martin Andanar were also present at the event.
The finance chief said that over the medium term, the Philippine government intends to make the “most dramatic advances” towards finally resolving its persistent problem of poverty, by working to make the country an upper middle-income economy by 2022 and reducing poverty incidence to just 14 percent by that time.
According to Dominguez, he expects the country’s young and well-trained workforce to power this economic transformation.
“In this grand effort to bring our country to prosperity, we will continue to rely on Japan’s support and encouragement,” Dominguez said. “Our bilateral relationship looks as promising as ever. The partnership between our two countries will surely become even more productive and vital.”
He said that with the strong friendship between the two countries, the Philippines is looking to “the future with confidence.”
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