THE PHILIPPINES will be hosting high-level meetings with middle-income countries (MICs) next week to tackle current challenges and sustain the growth path amid global uncertainties.
“This conference advances the group’s objectives to pursue concrete solutions to address shared challenges of MICs such as inequality, climate vulnerability, access to technology, financing, and innovation, among others,” Philippine Foreign Affairs Secretary Enrique A. Manalo said in a briefing on Thursday.
The conference happening from April 28 to 29, at the Makati Shangri-La Hotel will have a theme, “Breaking New Grounds Towards a Strategic Plan of Action for Middle Income Countries.”
In the High-Level Conference, 19 like-minded countries will culminate with the adoption of the Manila Declaration on Middle-Income Countries for 2025-2030.
Mr. Manalo said the Makati Declaration will address US President Donald J. Trump’s tariff policy in an “indirect manner” about the efforts to promote greater free and open trade.
Mr. Trump on April 9 paused his new reciprocal tariffs for 90 days, although the baseline 10% tariff on almost all US imports remains in effect. The Philippines faced a 17% reciprocal tariff, the second lowest in Southeast Asia.
“We really hope that the Makati Declaration that will come out of the conference will offer concrete recommendations for advancing sustainable development in mix, but also in high mix, and also in developing countries and low-income countries,” Resident and Humanitarian Coordinator Arnaud Peral, United Nations Philippines said.
Meanwhile, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan stand firm that the Philippines will graduate to the upper middle-income status by 2026.
“In a global environment marked by rising trade uncertainties, geopolitical tensions, and climate-related vulnerabilities, navigating the path forward will demand careful stewardship. But this transition is more than a statistical threshold. It signals a deeper transformation,” Mr. Balisacan said.
He also said that the lower end of the 6-8% government target this year is “achievable.”
Mr. Balisacan earlier said that the Philippines needs to sustain 6% growth until next year to achieve upper middle-income status next year.
The Philippines is currently a lower middle-income country with GNI per capita of $4,230 in 2023, up from $3,950 in 2022. Upper middle-income status is expected to require GNI per capita of between $4,516-$14,005. — Aubrey Rose A. Inosante
