The Philippine Chamber of Commerce and Industry (PCCI) is expecting the country’s agricultural exports to reach $6 billion next year due in part to the warmer relationship between Manila and Beijing.
On the sidelines of a roundtable discussion among sugar stakeholders on Monday, Roberto Amores, PCCI chair for agriculture, said they were banking on China opening its market to the Philippines following Chinese President Xi Jinping’s state visit in the country.
He added the visit had resulted in the relaxation of China’s nontariff barriers, and the signing of numerous agreements that involve the exportation of frozen fruits like durian and mango and other frozen vegetables from the Philippines to the most populated country in the world.
The forecast, according to Amores, is about 8 to 10 percent higher from the country’s agricultural exports in 2017.
For this year, however, the value of the country’s agricultural exports may only reach less than $5 billion following the typhoons that ravaged agricultural lands.