The Ministry of Commerce: China and the Philippines economic and trade cooperation has yielded fruit

Beijing, Jan. 6 (xinhua Xie Xiyao) Philippine President Ferdinand marcos in recently paid a state visit to China, the Philippines economic and trade cooperation in the field of attention. Commerce ministry spokesman said Jue d. 6, in the two heads of state strategic guidance, in recent years, China and the Philippines economic and trade cooperation has yielded fruitful results.

Beam Jue d. at a regular press conference to be held in the Ministry of Commerce on the day of the Internet, by the end of 2021, China has six consecutive years become the largest trading partner in the Philippines, and become the second largest export market for the Philippines. China ranks the third largest export market for agricultural products. From January to November 2022, the Philippines trade 80.41 billion dollars, up 8.3% from a year earlier. In the fifth China international fair in the Philippines the booth area increase from the previous 240 square meters, 19 new exhibitors. At present, the Philippines has become China's largest import source of bananas and pineapples, coconuts, avocado, frozen fruits, such as to enter the Chinese market one after another, fresh durian is realization of exports to China.

Beam Jue d. also introduces, remarkable achievements in Chinese companies to invest in the Philippines cooperation. , according to the Philippines from 2016 to 2021, the Chinese enterprise investment total about $2.9 billion, to the Philippines agreement related to service outsourcing, logistics, agriculture, steel, communication and other areas, show a strong vitality.

Beam Jue d. said, the next step, the Ministry of Commerce will together with the Philippine side related departments, earnestly implement the important consensus reached by the leaders of the two countries, continue to expand import high quality products in the Philippines, support Chinese businesses to invest in the Philippines, promote to build "area" initiative and Philippines how built "build" plan, develop green economy, digital economy and other new areas of cooperation, promoting the construction of "double garden" between the two countries together to promote bilateral trade and investment to a new level.

Marcos during his visit to China, China and the Philippines signed a cooperation memorandum of e-commerce, common energy for bilateral economic and trade relations.