MELBOURNE, AUSTRALIA–During President Ferdinand R. Marcos Jr.’s engagement at the Lowy Institute on 04 March, Department of Trade and Industry (DTI) Secretary Fred Pascual and Australian Minister for Trade and Tourism Don Farell, pledged to strengthen the economic relationship between the Philippines and Australia.

The discussions focused on the elevated Strategic Partnership and regional mechanisms, such as the Second Protocol to Amend the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) and Regional Comprehensive Economic Partnership (RCEP), among others.
The Philippine trade chief welcomed Australia’s growing interest in pursuing investment opportunities in the Philippines, particularly in renewable energy, cybersecurity, digital health services, agriculture, data centers, battery manufacturing, recycling, and education.

At the Philippine Business Forum, held on the sidelines of the Association of Southeast Asian Nations (ASEAN)-Australia Special Summit, many Australian companies formally signified their interest in entering the Philippine market.

Additionally, the launch of the Victoria International Container Terminal's expansion, a subsidiary of International Container Terminal Services Inc., highlighted the presence of Philippine companies in Australia.

This development aligns with Australia’s Southeast Asia Economic Strategy leading to 2040 which prioritizes investment in four key sectors—agriculture and food, education and skills, resources, and green energy transition, within the Philippines.