Speaking at yesterday's roadshow for the upcoming Canton Import and Export Fair in Guangzhou City in China, FFCCCII president Cecilio Pedro cited the importance of continued trade with China despite recent incidents in the West Philippine Sea.
"We have to trade with each other in spite of the West Philippine Sea. So we have to set aside our problems in the West Philippine Sea and continue trade to foster better understanding," he said.
He said it is through trade that the Philippines and China's long-term relationship can be strengthened further.
Trade Undersecretary Ceferino Rodolfo said he shares Pedro's view that trade is a potent force for peace.
"There are grave things that are happening. We're not denying that...
But because of the graveness of these issues, the challenge really is on the economic side, that we should also really be working doubly hard so that we can further enhance our economic and trade relations," Rodolfo said.
According to Rodolfo, China is one of the Philippines' oldest and most significant trading partners.
China was the Philippines' top trading partner, second largest export market and its top import source in 2023.
"The value of bilateral trade was over $40 billion, proving the two nations' growing economic relations," Rodolfo said.
He added that China is also one of the Philippines' most significant sources of approved foreign investments, totaling almost $3 billion from 2018 to 2023.
As the Philippines positions itself as a regional hub for sustainability, connectivity and innovation-driven manufacturing services, he...
"We have to trade with each other in spite of the West Philippine Sea. So we have to set aside our problems in the West Philippine Sea and continue trade to foster better understanding," he said.
He said it is through trade that the Philippines and China's long-term relationship can be strengthened further.
Trade Undersecretary Ceferino Rodolfo said he shares Pedro's view that trade is a potent force for peace.
"There are grave things that are happening. We're not denying that...
But because of the graveness of these issues, the challenge really is on the economic side, that we should also really be working doubly hard so that we can further enhance our economic and trade relations," Rodolfo said.
According to Rodolfo, China is one of the Philippines' oldest and most significant trading partners.
China was the Philippines' top trading partner, second largest export market and its top import source in 2023.
"The value of bilateral trade was over $40 billion, proving the two nations' growing economic relations," Rodolfo said.
He added that China is also one of the Philippines' most significant sources of approved foreign investments, totaling almost $3 billion from 2018 to 2023.
As the Philippines positions itself as a regional hub for sustainability, connectivity and innovation-driven manufacturing services, he...
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The Philippine Star (Digital) - 1 Issue, March 27, 2024