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Govít Official Calls for Stronger Alliances within Asia

by: Sarah Joson

Monday, August 22, 2011 | Outsourcing News |

According to a Cabinet official, country members of the Association of Southeast Asian Nations (ASEAN) can be protected from economic turmoil of Europe and the US by reinforcing alliances within the region.

During the Credit Suisse ASEAN+India Conference in Singapore, Finance Secretary Cesar V. Purisima said "What is becoming very clear is that [for] countries like the Philippines and other members of ASEAN, we’ll have to look ... at how we can continue to pursue our growth strategy with domestic consumption within our own country, within ASEAN and intra-Asia."

Purisima highlighted that the region is becoming independent from advanced countries and that a part of the dealings are made within Asia, having US as the fifth trading partner - behind China and Japan.


Increased competition in the Philippine BPO space

Though India is responsible for only 2.5% of ASEAN trade, Purisima said that having an ASEAN engagement with India will be very crucial. He also said that the Philippines is heading in the right direction to strengthening partnerships with India. The Philippines is currently ranked third in the list of outsourcing destinations. “We’re seeing increased engagement of Philippine-based companies with Indian companies and Indian companies competing in the Philippine BPO space.” He added that there is a need to work together so both countries can take part in the direction the global economy is heading.


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