BY REGINA BENGCO
THE Philippines will be relying more on
trade with China to sustain its economic growth following the
US economic slowdown caused by the sub-prime credit crisis.
Press Secretary Ignacio Bunye, in an
interview at the send-off for President Arroyo yesterday, said
the Philippines could likewise rely on "other close neighbors"
like India which is experiencing robust growth.
He said while the US economic slowdown will
still affect the Philippines in some way, "we have broadened
our ties with other countries whereas before we were solely
dependent on the West."
He said the so-called policy shift is part
of the President’s "global engagement" strategy which seeks to
tap opportunities in dealing with other countries, although
"the US will remain a very close ally."
President Arroyo, in her departure
statement for Switzerland, expressed concern over the effects
of the continued rise of oil prices and the US economic
slowdown.
"Global engagement and a robust foreign
policy are central pillars for our plans for a safe and a
strong Philippines," she said.
She said she will deliver the same message
to the business leaders in the World Economic Forum in Davos,
Switzerland.
Arroyo left at past noon. She is expected
to arrive at the Zurich International Airport at 11 p.m.
Tuesday (6 a.m. Wednesday, Manila time).
Arroyo said she will meet with political
and business leaders who are helping in bringing peace to
Mindanao, giving assistance to poor Filipinos, and helping the
fight against terrorism.
After Switzerland, Arroyo said she will
meet with top political and business leaders of the United
Arab Emirates and seek more investments, particularly on
energy. She said she will also check the working conditions of
overseas Filipino workers.
Executive Secretary Eduardo Ermita said aside from seeking
other sources of foreign investments, government is
implementing infrastructure projects to pump-prime the
economy.