Philippines ahead in trade with China, says envoy
MANILA, Philippines—The balance of trade between China and the Philippines is now in favor of the latter, according to Chinese Ambassador to the Philippines Liu Jianchao.
For the first seven months of the year, total trade between Beijing and Manila reached $18 billion “with the Philippine side enjoying a surplus of $2 billion,” Liu said on Monday night during a Chinese Embassy reception marking China’s 62nd founding anniversary at a Makati City hotel.
During the same period, the trade volume between China and the 10-member Association of Southeast Asian Nations, including the Philippines, “registered a growth rate of 25.5 percent,” Liu said.
“China’s dynamic and robust economy will not only benefit its people, but add more strength to the global economy and bring good to the peoples across the world,” he said.
In his remarks, Liu also described President Aquino’s recent state visit to China as “successful and fruitful.”
Liu said that a five-year Development Program for Trade and Economic Cooperation was “signed to blueprint our future cooperation in agriculture and fishery, infrastructure development, mining, energy, IT, tourism, engineering services and forestry.”
“Our two countries agreed to raise the total two-way trade to $60 billion by 2016. During the visit, China affirmed its support for the Public-Private Partnership program of the Philippine government and committed to encourage Chinese companies to be contributing participants,” said Liu.
According to Liu, “the success of President Aquino’s visit to China opened up a broader vista for a China-Philippines relationship of strategic cooperation.”
“With what we have achieved, we shall continue to make the foundation of our friendship stronger, build a long-standing partnership in various areas of mutual concern, rise above and beyond the narrow confines of national interests, and create a regional environment of peace and stability,” he said.
Quoting an English proverb, Liu said, “All is well with him who has a great neighborhood.”
“China does cherish it as wealth to have the Philippines as one of its wonderful neighbors. By fostering friendship between our two countries and two peoples, centuries of peace and prosperity would follow,” he said.
