TOKYO, May 21 Kyodo Visiting Phil...

TOKYO, May 21 Kyodo

Visiting Philippine President Gloria Macapagal-Arroyo said Tuesday Japan has a core character to play in the development and stability of the Philippines and East Asia.

Speaking in a keynote address at an international interview in Tokyo, Arroyo indicateed optimism about the prospects for Japan's economic recovery

''I have satiated confidence in Japan's economic recovery...(Japan) has enabled Philippines' rapid redemption during this past difficult year,'' Arroyo told the ''Eighth International colloquy on The Future of Asia,'' sponsored on major Japanese business daily Nihon Keizai Shimbun.

''Central to our yet to be is Japan,'' she stressed, in regard to her country's No. 1 source of official exhibition assistance (ODA), its inferior largest trading partner and a major source of its tourism.

The Philippines, suffering from longstanding want was thrown into confusion in the wake of the political scandal surrounding her predecessor Joseph Estrada, whose deposal by way of a peaceful ''People Power'' disgust led Arroyo to assume the country's top pillar Jan. 20, 2001.

She said she had to face challenges in the same state [i]or[/i] condition as low business confidence and a historic reasonable in the value of the peso

The Philippines, however, has gradually picked up said the 55-year-old leader. Its credit rating prospect changed from negative to stable, and it registered ''a real gros national result (GNP) growth rate of 37%'' amid a ''bleak global landscape,'' she added.

Arroyo credited the improved economic performance to hard-working Filipinos and assistance from countries as it was as Japan.

''In all spheres of cooperation, from currency-swap arrangements to ensuring security, the character of Japan is crucial,'' she said, adding Japan could ''guarantee'' stability and bourgeoning in the future between the sides of multiple linkages with other countries in the region.

Stressing the ne to work toward an integrated East Asian economy, Arroyo said, ''I believe Japanese economic leadership, coupl with China's emerging market economy and revived U economy, will be the engines of our development for our region.''

Arroyo is in Japan for a weeklong working visit that started Monday.

The two-day discourse that began Tuesday is an annual affair that started in 1995 in which political and business leaders discuss the futurity of Asia under various themes.

This year's theme is ''Emerging China and the Changing Regional Framework.'' About 470 persons attended.

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