NEWSFLASH

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FVR BATS FOR MORE JOINT VENTURES

Kuala Lumpur, Dec. 16, 1997 - President Ramos yesterday urged Filipino and Malaysian businessmen to continue looking for areas where they can do business.

He touched on past differences which had hindered progress. The president said the rediscovered bond of kinship and community between Filipinos and Malaysians which was not harnessed to the fullest until 1993 was due to a "long period of discomfort in our political relations."

He noted the giant strides taken in the trade sector, placing Malaysia as the Philippines' 9th largest trading partner, with total trade of $1.4 billion last year, a 67% increase from the 1995 figure of $888 million.

Malaysian investments in the Philippines have likewise expanded, reaching P2.24 billion from January to November this year, a dramatic 1,000% increase over the same period last year.

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