![]() ![]() For Australia's aid initiatives to work effectively within this context, we have carefully considered the political dynamics and the feasibility of achieving lasting reforms within each area we have selected to work. Many of the constraints to inclusive growth are linked to the system of Philippine governance and the role of patronage in society and the economy.While the 'business processes outsourcing' sector is growing, there is a major 'missing middle' in low to medium skilled manufacturing which, if developed, would elevate millions out of poverty. Further, the GAP found that a lack of jobs among lower‑income earners is a key feature of entrenched poverty in the Philippines.The GAP identified the top constraints to economic growth were poor infrastructure planning processes, bureaucratic capacity and unequal access to education. To inform the re-shaping of Australian aid to the Philippines, DFAT has undertaken an analysis of the binding constraints to growth (the Growth Analysis of the Philippines, or GAP) to determine the most important constraints to inclusive economic growth. Growth in the Philippines is heavily reliant on remittances from Filipinos working overseas and is limited to a few sectors of the Philippine economy. The Philippines has experienced significant growth over the past four decades, but unlike many of its Asian neighbours this growth has not resulted in a commensurate reduction in poverty and has been limited to a few sectors of the economy and society. We will consult with the incoming administration to ensure the Australian aid program continues to align with Philippines Government priorities. In May 2016 there will be general elections in the Philippines, which will include polls at all government levels, including the Presidency. Australia and the Philippines share similar approaches to strategic and foreign policy and can promote improved regional development and stability in regional fora. Two-way trade was $3.8 billion in 2014, but has the potential to grow and benefit both countries.Īustralia's strong relationship with the Philippines, including through the aid program, provides an opportunity for us to work together in regional fora such as the Association of Southeast Asian Nations (ASEAN), the Asia Pacific Economic Cooperation (APEC) and the East Asia Summit. A more open economy will not only benefit Filipinos, but also allow both nations to continue to pursue a mature economic partnership. Australia is home to over 250,000 people of Filipino heritage, with over 10,000 Filipino students enrolled in Australian universities and vocational institutions.Īustralia's interests in the Philippines will be pursued by the development of a well-managed and stable Philippine state and a more prosperous, inclusive and open economy. We have shared interests and values, supported by strong people-to-people links. The Philippines is one of Australia's longest-standing bilateral relationships. Strategic priorities and rationale Context
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