Makati City: The Philippines is set to host a significant gathering of middle-income countries (MICs) next week in Makati City. The meeting aims to develop solutions and targeted approaches to support the growth trajectories of these nations.
According to Philippines News Agency, the conference is an initiative of the Like-Minded Group in support of Middle-Income Countries (LMG-MICs), chaired by the Kingdom of Morocco. The LMG-MICs comprises countries such as Armenia, Belarus, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Lebanon, Mexico, Morocco, Namibia, Panama, Peru, the Philippines, and Uruguay. Additionally, countries like Bangladesh, Fiji, Indonesia, Malaysia, Mongolia, and Thailand will also attend the event.
In a press conference, Foreign Affairs Secretary Enrique Manalo emphasized that the meeting will enable MICs to find concrete solutions to challenges like inequality, climate vulnerability, and access to technology, financing, and innovation. He highlighted that MICs, including the Philippines, are poised to take on a larger role in the global economic and political arenas.
The conference, scheduled to take place at the Makati Shangri-La, will focus on financing development for MICs, accelerating climate action and green transitions, and strengthening South-South cooperation and development partnerships. It also aims to address outdated models and metrics in development and financing assistance, proposing accurate formulas that reflect the real situations of countries.
The event will conclude with the adoption of the Manila Declaration on Middle-Income Countries, which will include proposed elements for a Strategic Plan of Action for MICs 2025-2030.
UN Philippines Resident Coordinator Arnaud Peral described the High-Level Conference of Middle-Income Countries (HLC-MICs) as a testament to Manila's dedication to multilateralism and global cooperation. He expressed hope that the Manila Declaration would provide concrete recommendations for advancing sustainable development not only in MICs but also in developing and low-income countries.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan noted that the Philippines is expected to achieve upper-middle-income country status by 2026. He stressed the importance of rethinking strategies to ensure inclusive and sustainable growth, warning against the risk of falling into the middle-income trap.
The gathering will host over 200 delegates, including foreign ministers, vice ministers, and other high-level representatives from LMG-MICs, selected Asia-Pacific governments, international organizations, financial institutions, development partners, civil society organizations, and the private sector.
