Phl, US Sign Joint Statement of Partnership for Growth

16 November 2011-Foreign Affairs Secretary Albert F. del Rosario and United States Secretary of State Hillary Rodham Clinton signed the Joint Statement of Principles on the Partnership for Growth (PFG) today in ceremonies at the Malacanang Palace.

The signing was witnessed by President Benigno S. Aquino III.

The PFG combines the resources and technical of both governments to unlock the constraints to Philippine economic growth.

Under this landmark partnership, the U.S. has mobilized 15 of its agencies to actively engage the Philippine government to draw on their combined technical and institutional resources towards unleashing an economic growth that can lead to a perceptible impact in the economic realities of Filipinos.

"The PFG is a manifestation of the multi-dimensionality of Philippine-U.S. engagement. It also affirms the Aquino administration's relentless pursuit of a broad-based economic growth towards a direct and perceptible transformation on the quality of life of Filipinos," Secretary del Rosario said.

Secretary Clinton remarked that "the U.S. values its historic and economic links with the Philippines. By including the Philippines in this dynamic Partnership, the U.S. signals its commitment to an economically strongper Philippines."

The Philippines is only one of four countries, and the only country in Asia, which was selected by the U.S. to partner with it in this this type of engagement for development. The others are Ghana, El Salvador and Tanzania.

These pilot countries were chosen due to their "sold track record in economic performance, democratic governance, investment in its people, and success on other U.S. government investments."

A new initiative of U.S. President Barack Obama's administration in line with the Policy Directive on Global Development, the PFG emphasizes inclusive collaboration in a process of joint analysis, joint planning and joint problem-solving.