MANILA -- The Philippines and South Korea agreed Saturday to elevate their relations to a new level that will enhance security, infrastructure, energy, as well as people to people exchanges.

Both countries made the decision for a stronger partnership during a bilateral meeting between President Ferdinand R. Marcos Jr. and South Korean President Yoon Suk-yeol in Sokha Hotel on the sidelines of the 40th and 41st ASEAN Summit and Related Summits.

“I do believe that it is time that we start to work to elevate our bilateral relations to a strategic partnership. Our newly launched bilateral platforms on science and technology, fisheries, cooperation and maritime cooperation, all contribute to the deepening of this engagement,” President Marcos said.

Also during the meeting, President Marcos expressed gratitude to South Korea for its solidarity initiative centering on maritime security that entails infusion of significant funding in various regional cooperative projects.

Such initiatives include Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Fund of South Korea, according to the President.

Established in 1994, BIMP-EAGA aims to accelerate the socioeconomic development of less-developed, marginalized and geographically remote areas in those four countries as part of a broader goal to narrow the development gaps, not only among ASEAN member states, but also within them. (PND)