PHILIPPINE-BRUNEI DAA,USSALAM ECONOMIC
RELATIONS
and exports, and domestic savings, instead of external debt, are finandng the recl;)very." The same article attributes the .Philippines' breakthrough in government reforms from i) the elimination of cartels and monopolies primarily in telecommunications, resulting in the improvement of phone density; ii) opening up of banking to foreigners; ill) liberalization of shipping, insurance, cement, agricultural trading, and the oil industry; iv) allowing two official carriers for international passageand two domestic airlines serving inter-island passengers; v) opening of wholesale trade to 100 percent foreign investment, with retail trade expected to follow suit through legislation; vi) opening of a 100 percent foreign participation opportunity through Financial or Technical Agreements (FTAs) and a most liberal and innovative buildoperate-transfer (BOT) law with over 10 variations that enable private investors to take the lead in infrastructure development, transport, water and waste management, and other public utilities; vii) offering multinational fums the opportunity for ready-to-occupy locations in about 40 growth centers, industrial estatesand export zones,namely, Subic Bay Freeport Zone, Oark Special Economic Zone, Calabarzon, and Socsargen, among others (Nellor 1%6). Despite this new picture, the Philippines' further need to develop better work attitudes and values corollary to the development of needed technology was seen in order. to continue economic development along with its ASEAN neighbors. Inputs to Bilateral Relations Domestic and foreign policies are the logical articulations of a country's national interests. Thus, national interest is singled out in this study as the first component that determined the bilateral relations of the Philippines and Brunei Darussalam. Bilateral relations work along the principle of quid pro quo -specifically in economic exchanges.No nation in the world has beneficially assisted other nations, under this principle, based principally or solely on benevolence. It maybe possible for such to happen but not most of the time. One has to give something in exchange for what it can get. And what a country would like to get from another in exchange for a benefit is determined basically by its national interest.
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