Good news can be expected once the final terms of the Malaysian brokered peace deal between the Philippines Government and the Moro Islamic Liberation Front (MILF) is completed.
Philippines Ambassador to Malaysia J. Eduardo Malaya said the deal, which ended decades-long conflict between the two sides, will bear fruit very soon, adding that negotiations between the two are going very well.
"The country is a fast developing nation and it is vital that peace and stability is upheld," he said in his address during the University of Philippines Concert Chorus performance, here.
The peace deal was inked on Oct. 15 last year.
He said there is a need to strengthen the ties of both nations as they share similar cultures and economy especially Sabah, as it is closest. Malaya said he is relatively happy with the effort made by leaders of both nations namely Prime Minister Datuk Seri Najib Tun Razak and Philippines President Beningno Aquino III to harness mutual relations.
The Philippines economy last year posted 7 per cent growth, exceeding its 6 per cent target, making the nation the second fastest growing in the South East Asia region.
During his visit in mid-February, Malaya said there is huge potential for Malaysian businesses to invest in the country, adding that he has led a trade delegation from Selangor to Cotabato and Bangsamoro in November 2012.
Furthermore, he said many Philippine companies have also invested in Malaysia for example Petron Corp, which has acquired Esso Malaysia Bhd for US$600 million including its 557 petrol station and refineries nationwide.
Like Sabah, Malaya said the Philippines also has thousands of islands and tourism spots which can be visited.
He said in 2012 there were four million tourist arrivals into the country, 106,000 of them Malaysians.
Daily Express.
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