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Philippines Joins 3rd ASEAN+3 Economic Cooperation and Financial Stability Forum


18 December 2024, Seoul. The Philippines participated in the 3rd ASEAN+3 Economic Cooperation and Financial Stability Forum, with the theme “Sustainable Growth: Reinforcing Resilience, Revitalizing Productivity,” convened on December 16, 2024, at the Bank of Korea in Seoul. Jointly organized by the ASEAN+3 Macroeconomic Research Office (AMRO), the International Monetary Fund (IMF), and the Bank of Korea. The forum gathered policymakers, academics, and experts to address the region’s economic challenges and explore pathways for sustainable development.

The Philippine delegation included Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr., Department of Finance Undersecretary Joven Balbosa of the International Finance Group (DOF-IFG), and other finance officials. Philippine Ambassador Theresa Dizon-de Vega was likewise present at the forum.

The forum featured keynote messages and presentations from ROK Deputy Prime Minister and Minister of Economy and Finance Sang-mok Choi, AMRO Director Kouqing Li, Nobel Laureate for Economics Simon Johnson, IMF Director Krishna Srinivasan, Indonesian Finance Minister Sri Mulyani Indrawati, ADB President Masatsugu Asakawa and other distinguished experts.

BSP Deputy Government Dakila joined the Panel Session on “Macroeconomic Development and Prospects: Near-term Risks and Policy Directions” where panelists examined near-term risks to macro-financial stability and discussed policy directions to address these challenges.

The forum discussed the urgent need for enhanced economic and financial cooperation among ASEAN+3 countries in the face of evolving challenges and to secure sustainable growth. END

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September 16, 2025
PHILIPPINE EMBASSY IN KOREA WELCOMES NEW AMBASSADOR

Seoul, Republic of Korea - The Philippine Embassy in Korea welcomed its new Ambassador, Her Excellency Bernadette Therese C. Fernandez, Chief of Mission Class I, who arrived in Seoul on 15 September 2025 to formally assume her post as Ambassador Extraordinary and Plenipotentiary of the Republic of the Philippines to the Republic of Korea. She was accompanied by her spouse, the Honorable Francisco Noel R. Fernandez III, Director General of the Foreign Service Institute. 

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September 08, 2025
PHILIPPINE EMBASSY WELCOMES KDIS-DAP INTERNATIONAL SHUTTLE COURSE ON DIGITAL TRANSFORMATION DELEGATES

04 September 2025, Seoul – The Philippine Embassy in Seoul, led by Chargé d’Affaires, a.i. Edwin Gil Q. Mendoza, welcomed Former Senator Francis Tolentino, local chief executives and national government officials participating in the International Shuttle Course (ISC) on Digital Transformation in the Public Sector program of the Development Academy of the Philippines (DAP) and Korea Development Institute School of Public Policy and Management (KDIS) on 02 September 2025. During their visit, the delegation were given a brief overview by Embassy officials of the relations between the Philippines and the Republic of Korea.  In his remarks, CDA a.i. Mendoza acknowledged the important role of local government units in strengthening engagement with other countries. “Diplomacy begins where our people live, in our towns, cities and provinces. It begins with our local government officials who build the trust and confidence of citizens every single day. In several cases, domestic policy informs foreign policy,” he said. Third Secretary and Vice Consul Reisha Olavario presented an overview of PH-ROK relations covering key aspects of bilateral relations and shared ROK’s best practices in digital transformation that may be applied by local government units in the Philippines. Former Senator Tolentino, Mission Leader of DAP-ISC, reaffirmed the outstanding relations between the Philippines and the Republic of Korea. During his term as the Vice Chairman of the Senate Committee on Foreign Relations, Senator Tolentino provided instrumental support for the bilateral free trade agreement and defense procurement projects between both nations. As the proponent of the DAP Adaptive Governance and Innovation for Local Executives (AGILE) Program, the former Senator encouraged the delegates to continue working for a better and connected Philippines. Professor Hai-young Yun, Assistant Dean of External Relations of KDIS expressed appreciation for the support extended by the Embassy to its programs, stressing the important role the latter plays in helping delegates gain a deeper understanding of the multi-faceted relations between the Philippines and the ROK. The Philippine Embassy in Seoul continues to emphasize the importance of sub-national diplomacy by supporting capacity-building and knowledge-exchange activities such as DAP-ISC.  By focusing on digital transformation and innovation in governance, the DAP-ISC program harnesses ROK leadership in technology for public service delivery and helps local government units translate these lessons into context with strategies that will empower communities and make cities more efficient, responsive and future-ready. END

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