MELBOURNE — President Ferdinand Marcos Jr. said that the Philippines is upgrading its military capabilities to ensure regional security amidst growing geopolitical tensions in the Indo-Pacific region.

During his keynote address at the Lowy Institute here in Melbourne, Marcos Jr. underscored the government's mandate of safeguarding Filipino interests.

"We are upgrading the capabilities of our Coast Guard and pursuing the modernization of our Armed Forces," Marcos Jr. said, as he announced the approval of the updated acquisition plan for the Armed Forces of the Philippines, known as Re-Horizon 3.

"Our forces must be able to guarantee, to the fullest extent possible, Filipino nationals, Philippine corporations, and those authorized by the Philippine Government, unimpeded and peaceful exploration and exploitation of all natural resources in areas where we have jurisdiction, including and especially our exclusive economic zone, in accordance with international law," Marcos Jr. said.

Acknowledging the role of the Philippines in the broader context of regional security, President Marcos highlighted the country's participation in international efforts to preserve the rules-based international order.

He stressed the need for great powers, particularly the United States and China, to engage in meaningful dialogue to maintain strategic stability and limit nuclear arms build-up.

"The Philippines and Australia, along with Japan, are at the forefront of efforts to reduce nuclear risks in the region," Marcos Jr. said, emphasizing the importance of managing strategic competition responsibly and ensuring that the interests of smaller states are not overlooked.

President Marcos concluded by urging global leaders to address various challenges confronting humanity, including great power rivalries, with a sense of urgency and cooperation.

"Great power rivalries constitute only one of several storms that render turbulent the waters that confront humanity's common journey at this crucial juncture," he remarked, calling for collective action to navigate these challenges effectively.

As the Philippines navigates the complexities of regional security, President Marcos's remarks underscore the nation's commitment to safeguarding its interests while advocating for peace and stability in the Indo-Pacific.