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ARROYO PITCHES FOR NEW TRADE, INVESTMENT DEAL WITH AUSTRALIA.
MELBOURNE, June 1 Asia Pulse - Philippines President Gloria Macapagal Arroyo has used a dinner in Melbourne Thursday night to pitch for new trade and investment with Australia.
Ms Arroyo spoke at Melbourne's Grand Hyatt Hotel, hosted by the Asia Society and the Australia Philippines Business Council.
She said the Philippines' economy was growing strongly and the government was cutting red tape to offer a firm base for Australian and international business ventures.
"There is a good economic story I'd like to tell you about ... The Philippines today, about the growing strength of the Philippine economy, providing more and better investment opportunities to Australian companies," she said.
"The Philippines is in a fight to turn around the economy to lift up its poor. It's winning.
"Slowly but surely, we are investing in our people and creating new hope and opportunity for the people."
Tough fiscal measures including tax increases, work to reduce the budget deficit and foreign debt and a crackdown on tax cheats had led to economic growth of 6.9 per cent in the first quarter of 2007 - the fastest growth rate in almost 20 ...
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Source: HighBeam Research, ARROYO PITCHES FOR NEW TRADE, INVESTMENT DEAL WITH AUSTRALIA.