And today, the Philippines is one of the fastest growing economies in the world. In the financial markets, the Philippines can target a larger portion of ASEAN savings. Here we lag behind Indonesia, Malaysia, Singapore and Thailand. The same is true for external trade, another potential growth area for the Philippines.
In both portfolio investments and in external trade, Philippine banks have a clear role to play as an intermediary, paying/collecting agent and investment advisor. Of course, the possibilities are not limited to those within the purview of the banking system.