MANILA—The Philippines not having the United States as an ally is inconceivable, President Ferdinand Marcos Jr. said as he wooed American investors for future investments back home.

During his visit to the New York Stock Exchange (NYSE) Business Forum early Tuesday morning (Manila time), Marcos said it is clear to him that the ties of both nations are beyond politics and something he cannot "overstate".

"I cannot see the Philippines in the future without having the United States as a partner ... Many of the drivers of our early economy were actually American corporations. Many of the strongest corporate benefactors to government and to the rest of society in the Philippines were coming from the United States," he said during an interview with NYSE vice chair and chief commercial officer John Tuttle.

The President said strengthening the Philippines-US alliance and partnerships is "extremely necessary" amid growing economic and geopolitical crises being experienced globally.

"They (partnerships) provide the stability in these highly-unstable economic, political, geopolitical, (and) diplomatic environment. This is something that is central to our thinking when it comes to our economic planning for the Philippines," Marcos said.

Marcos added that both countries are "driven together by forces that exist now in the world".

"We still look to the United States as our partner. When we are in crisis, we look to the United States ... I have to say that the reason we have done that, is that for the most part, we can say that the United States has not failed us," he said.

His visit to the US comes amid increasing tensions in the Indo-Pacific region, particularly between China and the United States, as both countries jostle for global power.

In a renewed shift in Philippine foreign policy, Marcos has repeatedly expressed his intent to strengthen further the Philippines’ bilateral ties with the US, its traditional ally, during his term as President.

Former President Rodrigo Duterte shook up the Philippine-US ties with his pivot to China and Russia as he fired verbal assaults against the United States throughout his term.

Marcos Jr. earlier said he hopes to hold bilateral talks with US President Joe Biden at the sidelines of the 77th United Nations General Assembly (UNGA) where he is set to deliver a speech Tuesday afternoon.

• Marcos says hopeful to hold bilateral talks with Biden at UNGA

The Department of Foreign Affairs also said it has included in the draft statement it prepared for Marcos "a very strong question on the rule of law" and the role of the United Nations Convention on the Law of the Sea, amid Manila's tussle with Beijing in the South China Sea over disputed maritime areas.

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