MANILA, Nov. 26 -- Diversification of the export market will help the Philippine economy bolster its resiliency and cushion itself from protectionist policies, even as it is largely domestically driven, an economist said on Wednesday.

Michael Ricafort, Rizal Commercial Banking Corporation chief economist, in a reply to e-mailed questions from the Philippine News Agency, said the various free trade agreements (FTAs) the Philippines have entered into, especially with Association of Southeast Asian Nations (ASEAN), "still has opportunities/potential to be optimized, in view of the need to diversify the country's export markets and also export products/winners."

Aside from ASEAN member countries, the Philippines has FTAs with Australia, New...