The record 6.9 percent first-quarter GDP (gross domestic product) growth demonstrates what the Filipino people can achieve with resolute economic and governance reform, political maturity and consolidation, and unrelenting hard work.

Let us sustain our efforts toward progress and stability, including the speedy conclusion of the electoral exercise in accord with the law and due process.

We applaud the unflinching efforts of the Comelec (Commission on Elections), the police and the soldiers, the teachers and other election personnel, as well as the political contenders, the pollwatch organizations and the media.

Thanks to the vigilance and perseverance of all these groups. Foreign observers as well as U.S. Assistant Secretary of State Christopher Hill have judged the elections to be successful overall. This assessment has helped boost the confidence of investors and their hopes for greater stability in the country.

At the same time, we share the concern of many about allegations of fraud from administration, opposition and citizens’ groups, and we appeal to all sides for sobriety, due process and attention to verified evidence in resolving poll disputes.

We must all give the nation's advancement paramount importance and ensure that our hard-won economic resurgence and rising investor confidence are not undermined by unproductive conflict and undue attacks on the integrity of our democratic processes.

An upbeat President Gloria Macapagal-Arroyo declared today that the economy is well-positioned to meet this year’s projected gross domestic product (GDP) growth of 6.1-6.7 percent.

The 6.9 percent growth of the GDP and the 6.6 percent uptake of the Gross National Product (GNP) in the first quarter of 2007 are "great" signs that "we will meet our GDP growth target of 6.1-6.7 percent for 2007," the President said in a statement issued by Malacaņang this morning.

She said international investors and creditors have taken notice of the country’s strong growth performance and sustained gains on the fiscal front as signs pointing to a stable macroeconomic environment.

Now in Australia on the last leg of a two-nation overseas trip to strengthen Philippine relations with its Asian neighbors, the President said she would work with Congress on important bills to ensure that the economic gains will impact on the lives of the Filipino masses.

"Investments are pouring in, and they have pushed the stock market to an 80-year high," she said.

She added that remittances by Overseas Filipino Workers (OFWs), coupled with robust exports, outsourcing revenues and tourism receipts are bolstering the performance of the peso vis-ā-vis foreign currencies.

Compared with other Asian countries, the Philippines fared better than Malaysia (5.3%), Indonesia (6.0%), Singapore (6,0%), Hong Kong (5.6%), Taiwan (4.1%), and South Korea (4.0%) though it lagged behind China (11.1%), and Vietnam (7.7%).

The President said the economy has maintained its upward growth curve under her administration, a far cry from years ago when "we hovered along the growth band of 3-4 percent."

In her second term, the growth of the economy accelerated to 5-6 percent, she said. "This latest figure may signal that we are knocking at the door of 7 percent growth in the years ahead. We need rapid growth to multiply jobs, to raise incomes, and to defeat poverty," she added.

The President stressed that as head of the board of the National Economic and Development Authority (NEDA), she will "promote policies to sustain the growth surge" which stems from a mix of macroeconomic stability, improved investment climate, sustained agricultural modernization, and favorable peace and order conditions.

"We will adhere to the spending program set by the Development Budget Coordinating Committee and will continue to work with Congress to pass important economic bills," the President added.

She admitted, however, that a lot of work remains to be done, adding that Filipinos should be closely united and look "beyond our differences, and work together in the fight against poverty."

The Chief Executive said the government is aggressively pursuing, various measures to sustain economic growth and ensure that the people enjoy the fruits of an accelerating economy.

Among these measures are.

"Let’s keep the country surging."

This was the gist of a statement issued today by Cabinet Secretary Ricardo Saludo as he urged the Filipino people to sustain their efforts toward progress and stability, including the speedy conclusion of the electoral exercise "in accord with the law and due process."

Saludo applauded the "unflinching efforts" of the Commission on Elections (Comelec), and cited the police, military, the teachers and other election personnel as well as the political contenders, the poll watch organizations and the media for their efforts.

"Thanks to the vigilance and perseverance of all these groups," he said. "Foreign observers as well as U.S. Assistant Secretary of State Christopher Hill have judged the elections to be successful overall. This assessment has helped boost the confidence of investors and their hopes for greater stability in the country."

Stressing that the government shares the concern of many about allegations of fraud from both administration, opposition and citizens’ groups, Saludo appealed to all sides for sobriety, due process and attention to verified evidence in resolving poll disputes.

"We must all give the nation’s advancement paramount importance and ensure that our hard-won economic resurgence and rising investor confidence are not undermined by unproductive conflict and undue attacks on the integrity of our democratic processes," he explained.

Saludo cited a National Economic and Development Authority (NEDA) report on the country’s 6.9 percent first quarter Gross Domestic Product (GDP) growth which he said demonstrated what the Filipino people can achieve with resolute economic and governance reform, political maturity and consolidation, and unrelenting hard work.

In the report, Socioeconomic Planning Secretary Romulo L. Neri noted that this performance surpassed NEDA’s conservative forecast band of 5.3 to 6.1 percent as well as the 5.7 percent median forecast of Bloomberg’s survey.

Meanwhile, he said the Gross National Product (GNP) rose by 6.6 percent.

CANBERRA, Australia (via PLDT) -- The Philippines and Australia signed today a Status of Visiting Forces Agreement (SOVFA) that would allow the defense forces of both countries to undertake joint exercises, training, intelligence sharing, and education in each other's territories.   

President Gloria Macapagal-Arroyo and Australian Prime Minister John Howard witnessed the historic signing of the agreement by Defense Secretary Hermogenes Ebdane Jr. and his counterpart Defense Minister Brendan Nelson at the Parliament House here.  

The SOVFA provides a comprehensive legal framework that sets down the rights, responsibilities and procedures to support the temporary activities of the Armed Forces of the Philippines (AFP) and the Australian Defense Forces (ADF) such as the conduct of training and exercises in each other's territories. 

The new agreement, the second for the Philippines after the VFA with the United States, is expected to enhance defense and counter-terrorism capabilities of both countries, aside from the conduct of education and training, capacity-building, and humanitarian and disaster/relief assistance. 

As part of its ratification process, the SOVFA has to be concurred by both the Australian House of Parliament and the Philippine Congress before it becomes operational. 

In her joint press conference with Prime Minister Howard at the Courtyard of the Parliament House, the President said one of the clearer provisions of the SOVFA is on criminal jurisdiction which takes into account the rules of court of the receiving country. 

"We will respect the rights of the plaintiff, we will respect the rights of the accused, and we will follow the due process of the law," the President said.  "When it comes to any criminal case, it is not really the executive that has the final say, it is the judiciary and they are constitutionally independent." 

The President said the agreement would help professionalize and enhance the interoperability of the AFP and develop intelligence fusion between both militaries, including the fight against terrorism. 

In case of conviction or the mere issuance of a warrant, Ebdane said the rules of court of the receiving country would have control and jurisdiction. 

CANBERRA, Australia (via PLDT) -- The Philippines and Australia signed today a Joint Ministerial Statement on the Australia-Philippines Development Assistance Strategy 2007-11 representing Australia’s commitment to help the Philippines attain its development goals of reducing poverty, enhancing economic opportunities and maintaining national stability.

President Gloria Macapagal-Arroyo and Australian Prime Minister John Howard witnessed the signing after their meeting and expanded bilateral meeting at the Parliament House here. 

Signing the agreement were Foreign Affairs Secretary Alberto Romulo and his counterpart Minister for Foreign Affairs Alexander Downer.

It was agreed upon that Australia's aid would focus on areas of high priority for the Philippines, where Australia's expertise and experience will have the strongest impact.  Under the strategy, Australia would help the Philippines maintain its progress on fiscal management, investment in infrastructure, and better income-generating opportunities for the poor. 

Australia would also help improve access to school and better teaching methods, particularly for all children in the Visayas and Mindanao.   Australia would also work with Philippine institutions and communities to support peace in Mindanao, improve capacity to counter threats from transnational crime, and strengthen disaster preparedness. 

Acknowledging the commitment of the Philippines to address human rights concerns, both countries also agreed to work together to identify further practical assistance that Australia may be able to provide to key institutions dealing with human rights.

The Philippines welcomed Australia's significant increase in its official development assistance (ODA) to the Philippines from 2007-2008 amounting to P3.96 billion (A$100.6 million), compared to the P2.7 billion last year.      

Based on needs and performance, further annual increases are expected over the strategy's five years. 

In a statement, Downer noted that economic growth in the Philippines has risen yearly to over five percent over the past three years.

CANBERRA, Australia (via PLDT) -- President Gloria Macapagal-Arroyo lauded today the leading role that Australia plays in the fight against terrorism which, she said, help ensure the economic, political and military security of the Philippines as well as the entire region. 

"Australia is a major ally and strong economic partner of the Philippines. Our friendship has been forged on the anvil of history from the battles of World War II and now the war against terror. It is an honor to be here to forge even deeper economic, security and cultural ties that bring our nations even closer together," the President said during her joint press conference with Australian Prime Minister John Howard this morning at the Courtyard of the Parliament House here. 

The President said the help of Australia and other allies significantly contributed to the containment of the spread of terrorism through the conduct of trainings and cooperation, interfaith dialogues, and other programs in particular to reduce poverty in vulnerable recruitment areas of terrorists.

"We are vigilant to the terrorist threat and we welcome the power and resources of our allies like Australia. Our allies help us root out and destroy these vicious killers who ply their dislocated and evil ideology on the innocent," the President stressed.

"As current chair of ASEAN, we are also grateful for the leadership role that Australia plays to advance the interest of the entire region," she said. 

For his part, Howard reciprocated by citing the Philippines' successful campaign against terrorist threats and extremism.

"There had been specifically successful steps taken against terrorism by the Philippines. Working very closely with Australia and other countries, we think real major progress has been made," Howard said.  

"It is not easy but the numbers had been contained and many areas reduced. And my general impression is that the Philippines has been quite successful in recent times in the fight against terrorism," he added.

Howard said the historic signing today of the Australia-Philippines Status of Visiting Forces Agreement would further strengthen cooperation to combat the ever-present threat of terrorism. 

"But I know the President is not complacent and none of us can afford to be. And greater cooperation, in particular training exercises involving counter-terrorism that will come out of this strategic and important agreement would be widely welcome by most of the Australians," Howard said.

The President said building new alliances would foster unity and cooperation towards the attainment of peace, stability, and economic growth in the region.