Phl, NZ to explore new avenues for bilateral trade, investment

The Philippines and New Zealand are set to explore new avenues for investment and bilateral trade, with a focus on achieving sustainable and inclusive growth.

During the joint press conference of President Ferdinand Marcos Jr. and New Zealand Prime Minister Christopher Luxon in Malacañan on Thursday, both the leaders outlined their plans to deepen cooperation between the two nations.

The leaders emphasized their commitment to elevating their partnership across various sectors, including trade, defense, and environmental protection.

Marcos emphasized the shared Indo-Pacific heritage and the commitment to peace and prosperity that underpin their relationship.

"Our interactions with New Zealand are guided by our collective desire for a stable and prosperous future," Marcos said, highlighting the importance of strengthening the relationship through various multilateral endeavors and economic partnerships.

Marcos outlined several areas for collaboration, including enhancing maritime security and combating climate change.

He expressed enthusiasm for a new economic partnership mechanism that aims to foster sustainable bilateral investment and trade.

"This partnership will see our countries working together more closely than ever to tackle common challenges like maritime security, climate change, and economic development," Marcos said.

The President also emphasized the importance of international economic agreements such as the Asia-Pacific Economic Cooperation, Regional Comprehensive Economic Partnership, and ASEAN Australia New Zealand Free Trade Area in fostering these relations.

"We will continue to partner with New Zealand to maximize the benefits of the rules-based trading system," he affirmed.

In response, Luxon praised the Philippines for its vibrant culture and economic growth, which he described as the fastest in Southeast Asia.

"We are determined to elevate our relationship to a comprehensive partnership by our 60th anniversary of diplomatic relations in 2026," Luxon said.

He outlined a roadmap to strengthen trade security and people-to-people links and addressed regional and global challenges like climate change and maritime security.

Luxon also acknowledged the significant contribution of the Filipino community in New Zealand, noting that over 100,000 Filipinos enrich the social, cultural, and economic fabric of New Zealand.

Both leaders reiterated their commitment to peaceful resolutions of disputes in accordance with international law, with a particular focus on maritime security and the UNCLOS framework.