Source:  BusinessMirror

THE Philippines and Australia have committed to use the public-private partnership (PPP) platform to deepen their commercial ties, according to a joint ministerial statement issued on Thursday in Canberra.

The statement followed a meeting between Australian officials, led by Minister for Foreign Affairs Kevin Rudd and Minister for Trade Craig Emerson, and Foreign Secretary Albert del Rosario and Trade Secretary Gregory Domingo.

At the meeting, del Rosario and Domingo said the PPP strategic infrastructure projects were a vital element of the Philippines’ economic-development efforts.

“The secretaries and ministers agreed on the potential of PPPs for further deepening commercial linkages between the two countries, given the strengths of Australian infrastructure-related companies,” the statement said.

Also, at the third Philippines-Australia ministerial meeting, the secretaries and ministers agreed to “target sustained growth of trade and investment links,” particularly through the opportunities created by the Association of Southeast Asian Nations (Asean)-Australia-New Zealand Free Trade Agreement.

They also agreed on the potential of the mining sector to bring about significant economic and development benefits for the Philippines, as it had for Australia.

“They welcomed the increasing Australian investment in the Philippine mining sector and noted that Australian expertise in sustainable mining practices and mining technology services could assist the development of responsible mining in the Philippines,” the statement said.

Australia will host the second Joint Working Group on Mining later this year. The Australian ministers welcomed the prospects for a high-level mining delegation from the Philippines.

The officials also reaffirmed Australia’s commitment to reduce poverty in the Philippines by supporting basic education, improving the capacity of local governments to deliver basic services, strengthening climate-change adaptation and disaster-risk management and improving the prospects for peace and security.

Australia’s development-assistance program for the Philippines will increase to A$123 million in 2011-12.

Besides trade and investments, the statement also covered cooperation commitments in counterterrorism, defense and security, peace process, development cooperation, and regional and multilateral engagements.