Philippine President Benigno S. Aquino III and South Korean President Park Geun-Hye are looking for a more cooperation and greater participation during their bilateral meeting on Wednesday at the sidelines of Asia-Pacific Economic Cooperation Summit (APEC).
Both nation is eager to increase bilateral trade, urging and encouraging South Korean companies to invest in shipbuilding, automotive manufacturing and fabricating, electronics, energy and renewable energy, food processing and agribusiness, electronics, finance and banking, infrastructure and public-private-partnership (PPP) projects, such as the development of the Puerto Princesa airport in Palawan. Presidential Communication Secretary Herminio Coloma Jr. said.
As manifested by the Philippines’ acquisition of various defense material, primarily a squadron of FA-50 fighter aircraft. The Philippines is “very satisfied with the strong logistics between our two nations and we appreciate Korea’s donation of a patrol
combat corvette, a landing craft utility, and 16 rubber boats to improve our military’s humanitarian assistance and disaster response capabilities.” President Aquino told the Korean leader.
“President Park has lauded the Philippines for its fast and quick growth development of Gross Domestic Product (GDP) and She likewise expressed hope that more South Korean companies would participate in the Armed Forces of the Philippines’ modernization program,” Coloma said.
Coloma noted that “Park is seeking greater bilateral cooperation in infrastructure development, public health, projects in medicine and as well as in transportation, and infrastructure development. – Jason E.