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Post-EDSA 1986:
The Philippines became one of the founding members of the Asia-Pacific
Economic Cooperation or APEC inNovember 1989, and an active player in regional
efforts to establish the ASEAN Free Trade Area. In 1990, the DFA proposed the
establishment of more diplomatic missions to the Middle East to improve existing
ties with Arab states and to respond to the growing needs of Overseas Filipino
Workers.
Philippine Foreign Policy
The most important provisions of the 1987 Philippine Constitution
which pertain to the framing of Philippine foreign policy are as
follows:
Article II, Section 2: "The Philippines renounces war as an
instrument of national policy, adopts the generally accepted
principles of international law as part of the law of the land and
adheres to the policy of peace, equality, justice.“
Article II, Section 7: "The State shall pursue an independent
foreign policy. In its relations with other states the paramount
consideration shall be national sovereignty, territorial integrity,
national interest, and the right to self-determination
Republic Act No. 7157, otherwise known as "Philippine Foreign
Service Act of 1991", gives mandate to the Department of Foreign
Affairs to implement the three (3) pillars of the Philippine Foreign
Policy.
The three (3) pillars of the Philippine Foreign Policy
1. Preservation and enhancement of nationalsecurity
2. Promotion and attainment of economic security
3. Protection of the rights and promotion of thewelfare and interest
of Filipinos overseas.
These eight foreign policy realities are:
1. China, Japan and the United States and their relationship will be a determining
influence in the security situation and economic evolution of East Asia.
2. Philippine foreign policy decisions have to be made in the context of ASEAN.
3. The international Islamic community will continue to be important for the
Philippines.
4. The coming years will see the growing importance of multilateral and inter-
regional organizations to promote common interests.
5. As an archipelagic state, the defense of the nation's sovereignty and the
protection of its environment and natural resources can be carried out only to
the extent that it asserts its rights over the maritime territory and gets others to
respect those rights;
6. The country's economic policy will continue to be friendly to both domestic and
foreign direct investments;
7. The Philippines can benefit most quickly from international tourism.
8. Overseas Filipinos will continue to be recognized for their critical role in the
country's economic and social stability.
ECONOMY OF THE PHILIPPINES
• The economy of the Philippines is the
world's 36th largest economy by nominal
GDP according to the 2019 estimate of the
International Monetary Fund's statistics, it is
the 13th largest economy in Asia, and the
4th largest economy in the ASEAN after
Indonesia, Malaysia and Thailand. The
Philippines is one of the emerging markets
and is the sixth richest in Southeast Asia by
GDP per capita values, after the regional
countries of Singapore, Brunei, Malaysia,
Thailand and Indonesia.
• Three major business districts of the
Philippines (from top to bottom; Bonifacio
Global City, Ortigas Center, Makati Central
Business District)
• 1. Bonifacio Global City (also known as BGC, Global City, or The Fort) is a
financial and lifestyle district in Taguig, Metro Manila, Philippines. The district
experienced commercial growth following the sale of military land by the Bases
Conversion and Development Authority (BCDA).
• 2. Ortigas Center is a central business district located within the joint
boundaries of Pasig, Mandaluyong and Quezon City, it is Metro Manila's second
most important business district after the Makati CBD.
• 3. The Makati Central Business District, also known as the Makati CBD, is the
leading financial and central business district in the Philippines located at the
heart of Makati in Metro Manila. It is politically known as "Central Cluster" in the
West District of Makati.
ECONOMY
.
The Philippines is primarily considered a newly industrialized country, which
has an economy in transition from one based on agriculture to one based
more on services and manufacturing. As of 2017, GDP by purchasing power
parity was estimated to be at $1.980 trillion.
Primary exports include semiconductors and electronic products, transport
equipment, garments, copper products, petroleum products, coconut oil, and
fruits which has a value of $68.712 billion on the year 2017.
Major trading partners
• Japan, China, the United States, Singapore, South Korea, the Netherlands, Hong Kong,
Germany, Taiwan and Thailand. The Philippines has been named as one of the Tiger Cub
Economies together with Indonesia, Malaysia, Vietnam, and Thailand.
• The Philippines has been named as one of the Tiger Cub Economies together with Indonesia,
Malaysia, Vietnam, and Thailand.
• Import goods include electronic products, mineral fuels, machinery and transport
equipment, iron and steel, textile fabrics, grains, chemicals, plastic which has estimated
value of $96.093 billion (2017).
• Philippines main import partners are China, Japan, United States, Thailand, South Korea,
Singapore, Indonesia.
Composition by sector
• The Philippines is one of the largest producers of sugar in the world At least 17
provinces located in eight regions of the nation have grown sugarcane crops, of
which the Negros Island Region accounts for half of the country's total production.
• 13 mills in Negros
• 6 mills in Luzon
• 4 mills in Panay
• 3 mills in Eastern Visayas
• 3 mills in Mindanao
Tourism
More than 4 in 10 Filipinos who are poor actually have jobs. They continue to
struggle with poverty because they are employed in poor-quality jobs that pay less
than what their counterparts in manufacturing industries get.