US 'key' for Philippines economy

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Philippine President Benigno Aquino is visiting the US where is scheduled to hold talks with President Barack Obama

Its relationship with the US is very important for the Philippine economy, Rajiv Biswas from IHS Global Insight tells the BBC.

There are four pillars supporting the relationship, he says - trade in goods, trade in services, remittances from filipino workers in the US and direct investment from the US.

The Philippines economy has underperformed other Asian economies, with corruption being a key factor, but there are reasons for optimism, particularly since President Aquino came to power.

He has tackled corruption and implemented fiscal reforms, Mr Biswas says.

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