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The growth of MSMEs depends on the ASEAN-Japan economic resilience plan: PBBM

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Micro, small, and medium-sized enterprises (MSMEs) should be helped by the Association of Southeast Asian Nations (ASEAN) and Japan’s economic resilience plans to deal with the effects of previously unheard-of economic shocks, according to President Ferdinand R. Marcos Jr.

Marcos emphasized the need of ensuring the ongoing implementation of the action plan announced by the 10-member regional bloc and its dialogue partner at the 25th ASEAN-Japan Summit on Saturday in Phnom Penh, Cambodia.

Undersecretary Cheloy Garafil, officer-in-charge of the Office of the Press Secretary (OPS), said, “On the economic front, the Philippine leader looks forward to the continued implementation of the ASEAN-Japan Economic Resilience Action Plan, as he underscored the importance of providing assistance and developing the resiliency of micro, small, and medium enterprises.”

Given that the coronavirus disease 2019 (Covid-19) pandemic has highlighted the fragility of small enterprises, Marcos wishes to assist MSMEs in thriving and developing resilience.

The Covid-19 outbreak provided a stark reminder of how susceptible micro, small, and medium-sized firms are, the President noted, the OP reported.

Adopted in 2020, the ASEAN-Japan Economic Resilience Action Plan aims to provide long-term economic resilience for ASEAN and Japan’s post-pandemic recovery and to strengthen collaboration in minimizing the economic challenges brought on by the Covid-19 pandemic.

The 52 strategic actions outlined in the action plan are intended to maintain close economic relations between ASEAN and Japan, lessen the negative economic effects of Covid-19, and increase the economic resilience of both nations.

The ASEAN Comprehensive Recovery Framework and the ASEAN Coordination Council for Humanitarian Assistance on Disaster Management were both supported by Japan, which Marcos thanked for its support in addition to its USD 1 million donations to the Covid-19 ASEAN Response Fund.

In addition, he hoped that Japan will “strongly” support and participate in the ASEAN Centre for Biodiversity’s activities through the creation and administration of ASEAN heritage parks as part of a strategy for climate mitigation and adaptation.

Marcos commended the Quad’s guarantee of continued support for ASEAN Unity and Centrality, reiterating the Philippines’ entire commitment to safeguarding regional peace and security.

Australia, India, Japan, and the United States have talks on strategic security under the name Quad.

In order to maintain peace, stability, and prosperity, Marcos also underlined the necessity for all parties involved to make sure that any activity in the area’s waterways complies with the law, particularly the provisions of the 1982 United Nations Convention on the Law of the Sea.

In 2023, ASEAN and Japan will commemorate 50 years of diplomatic ties.

Marcos thanked Japan for housing more than 250,000 Filipinos and for continuing to support the management of disasters and the Covid-19 response in the Philippines.

Over 250,000 Filipinos now call Japan home, and I cannot conclude my remarks without thanking Japan for its generosity and protection of them,” he said. “They have been taken in by the Japanese people and have now found a place to live and work joyfully. We shall be eternally grateful for that.

On Saturday morning, Marcos and Japanese Prime Minister Fumio Kishida reaffirmed their resolve to further develop their bilateral relations on the sidelines of the ASEAN summits.

Cebuano Cebuano English English Filipino Filipino

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