The Makati Business Club (MBC) said the Philippines’ economic ties with the United States “should remain solid and should also be further expanded.”
This, after President Rodrigo Duterte told “worried” foreign investors to leave the country if they do not support his war against illegal drugs.
In a statement, the MBC said “We believe that as we strengthen ties with one of our neighbors, this should be in tandem with continuing to nurture our partnership with existing strategic allies and friends. In particular, our relationship with the United States, particularly on the economic front, should remain solid and should also be further expanded.”
The US is the country’s third largest trading partner after China.
“We should also note that in times of need the United States has delivered $90.9 million worth of financial aid and has offered extensive manpower and technical support to our rescue and rehabilitation efforts in the aftermath of Typhoon Yolanda. Similarly, the United States makes up 36.1 percent of official development aid grants of the Philippines in contrast to others with much smaller grants portfolio extended,” the MBC said.
It further said: “The United States’ Millennium Challenge Corporation, in particular, has extended over $433 million worth of anti-poverty and human development programs in the Philippines since 2006. These figures reflect the invaluable commitment and steadfastness of the US in assisting the growth of our people and our communities.”
“We support the drive for an independent foreign policy, particularly during this time when the Philippines has gained international respect, recognition and confidence over the past few years,” the MBC said.