The Philippines on Tuesday said that while the March accident of the Japanese Fukushima Daiichi power plant posed \"significant challenges\" to the International Atomic Energy Agency (IAEA), it also provided opportunities for the international community to improve the atomic watchdog. \"The events of the past year presented significant challenges to the work of the International Atomic Energy Agency (IAEA),\" Libran N. Cabactulan, Philippines\'ambassador to the UN, said in an open meeting of the UN General Assembly on the latest report of the IAEA. The plan was adopted in the aftermath of the March 2011 disaster at the Fukushima Daiichi nuclear power plant in Japan. An earthquake and tsunami resulted in damage to the plant and prompted a leak of radiation. The 12-point IAEA Action Plan on Nuclear Safety was endorsed in September by the 151 member states of the IAEA at the group\'s General Conference. \"The Fukushima nuclear accident shook the international community\'s perceptions of nuclear power, including the safety of existing power plants and new facilities proposed to be built,\" he said. Cabactulan said that while the Fukushima accident presented challenges, it also posed opportunities for the world body to discuss ways for improving the IAEA. Calling the Action Plan on Nuclear Safety a \"building block for the development of more specific measures,\" he said that it would help enhance nuclear safety worldwide. \"We believe that the IAEA should continue to provide assistance to countries such as the Philippines that are still considering the inclusion of nuclear power in its energy mix, particularly in the development of a regulatory framework, capacity-building, and the management of radioactive waste,\" Cabactulan said. While the IAEA has been successful in \"defining its way forward, \" political and financial constraints pose seemingly \"difficult hurdles\" for the agency to overcome, he said. \"The Philippines believes, however, that now is the time for IAEA member states to set aside all differences and to stand united in order to advance our common objectives.\"