My Google Page Rank

PHL, China discuss ways to strengthen bilateral economic ties

PDFPrintE-mail

Despite the on-going spat between the Philippines and the People’s Republic of China (PROC) on territorial disputes, the two countries have agreed to further strengthen their bilateral economic ties.

Employing one of the pillars of the Aquino Administration’s foreign policy — the economic diplomacy, Trade and Industry Undersecretary and Board of Investments (BOI) Managing Head Cristino Panlilio met with Chinese Ministry of Commerce (MOFCOM) Vice Minister Chen Jian this week in Beijing to discuss bilateral economic ties and promote more Chinese investments and joint ventures in the Philippines.

The Department of Foreign Affairs (DFA) reported that Panlilio presented in detail a number of investment sectors in the Philippines which are ready to receive foreign investments, have the capacity to employ thousands in the countryside, and can spur economic development: business process outsourcing (BPO), garments and textiles, mining, and infrastructure/Public-Private Partnership projects.

He also met with China's Vice Minister of Industry and Information Technology Xi Guohua and stressed the importance of connectivity between the Philippines and China, and pushed for more cooperation in the shipping and shipbuilding sector.

The Philippine side observed that shipping rates from Mindanao to Luzon are even more expensive than from the Philippines to China, due, among others, to the age of vessels and their maintenance.

Panlilio invited MOFCOM to organize business missions to visit the Philippines to scope opportunities, to meet prospective business partners and to conduct field visits and pledged full assistance from the BOI to visiting business missions from China.

Panlilio also pointed out that the bilateral trade in services would grow if China looked to the Philippines for its BPO requirements.

As the world's third largest English-speaking country in the world, the Philippines could service China's businesses in English-speaking markets overseas.
He urged China to bring its technology and know-how into the BPO sector, and encourage more engineers and scientists to visit the Philippines.

He added that the Philippines could be China's ideal partner in the latter's program to improve its English-speaking competence.

At the same time, Panlilio explained the importance of the mining sector in poverty alleviation, saying that this industry could create jobs and disperse development into the countryside.

He informed the Vice Minister that inactive mining claims in the Philippines will again become available for new investors, thus widening the market for mining investments.

Both sides agreed to expedite their work in establishing a "China Desk", manned by a Chinese official at the BOI, so that inbound and outbound investors in the Philippines can be serviced more efficiently.

Both sides agreed to deepen communications to ascertain the specific potential of the Philippine market for environmentally-friendly vehicle technologies.

Currently using gas powered buses in Beijing, Chongqing, and other major cities, China, shared its experience in developing both natural gas-fueled vehicles, including for public transport, and electronic vehicles (e-vehicles), and urged the Philippines to organize a delegation of policy-makers and business entities to visit China to understand the new technologies and applications in this sector.

Panlilio shared with Xi the different initiatives being taken in the Philippines to facilitate the growth of the market for new energy vehicles.

Because of the business-driven nature of the industry, both sides agreed to study the possibility for the Philippines to send a shipping delegation to China to meet with industry players and to determine how cooperation with China's shipbuilding sector can be established. (PNA/PIA9-BST)




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

Chides Magdalo men for being ‘cowards’

24 Mar 2017 Hits:38 Be the first to comment!

President Rodrigo Duterte on Monday branded Vice President Leni Robredo as an enemy who was in a hurry to claim the presidency and described Senator Antonio Trillanes IV as “a barking dog” who turned out to be a coward. Speaking before the Filipino community in Nay Pyi Taw, Myanmar on Sunday night, Duterte tore into his critics. “Ang mga kalaban ko ... si Leni apurado masyadong maging presidente [Among my enemies, Leni (Robredo) is in too much of a hurry to become president],” Duterte said. Duterte also mocked Senators Trillanes and Magdalo Rep. Gary Alejano, who filed an impeachment complaint against the President. Duterte said Trillanes robbed a hotel during the Manila Peninsula takeover in 2007. “Look at them. Trillanes is a barking dog. He’s [...] Read more

Prev Next Page:

Globe equips Manila Science HS with 21st Century classroom

24 Mar 2017 Hits:28 Be the first to comment!

Globe Telecom and Habitat for Humanity officially turned over to Manila Science High School (MaSci) over the weekend a multifunctional Information and Communications Technology (ICT) laboratory with a collaborative working [...] Read more


WestMinCom troops honor fallen marine soldier

24 Mar 2017 Hits:33 Be the first to comment!

A fallen soldier from the Marine Battalion Landing Team (MBLT)-2, who was killed during a clash with communist rebels, was honored in a send-off ceremony before he was brought to [...] Read more


Six alleged drug pushers arrested

24 Mar 2017 Hits:37 Be the first to comment!

Six persons, including a minor, were arrested in a series of buy-bust operations conducted by the different police stations of the Zamboanga City Police Office (ZCPO), Wednesday. The Drug Enforcement Team [...] Read more


MGB-9 orders stoppage of illegal gold mining in Baliguian town

23 Mar 2017 Hits:53 Be the first to comment!

Local small-scale miners looking for gold ores were ordered to stop illegal mining activities in Pigbogololan area in the rural town of Baliguian, Zamboanga del Norte early this month after [...] Read more


Globe myBusiness gives tips to working in the comfort of your own home

23 Mar 2017 Hits:62 Be the first to comment!

Many business owners enjoy working from home, but there’s a challenge that automatically comes with it.  There are certainly many perks, like being in charge of your own time, dressing [...] Read more


Cocolisap funds await PCA, City Hall coordination gab

22 Mar 2017 Hits:60 Be the first to comment!

Funds to rehabilitate the coconut industry following the cocolisap devastation cannot be released as of yet until after the Philippine Coconut Authority (PCA) regional office 9 and the city government [...] Read more


Koko sees okay of free internet access, six key bills this year

22 Mar 2017 Hits:93 Be the first to comment!

Senate President Aquilino “Koko” Pimentel III said Congress is expected to approve this year the bill on free internet access in all public places and six other key priority measures [...] Read more


Ateneo shines anew in Physician Licensure Exam

22 Mar 2017 Hits:102 Be the first to comment!

The Ateneo de Zamboanga University School of Medicine (ADZU-SOM) once again came up with an impressive performance during the recent Physician Licensure Examination (PLE) given by the Board of Medicine [...] Read more


Globe At Home Customers Meet the Cast of Wicked

21 Mar 2017 Hits:71 Be the first to comment!

The year is just beginning, but one of the highlights of 2017 is the staging of the Wicked, the West End musical, which transformed the Theatre at Solaire into the [...] Read more


Zambo harvests 80 gold medals in ZPRAA

21 Mar 2017 Hits:88 Be the first to comment!

The Zamboanga delegation ranked second in the secondary level and third in the elementary level in the recently concluded Zamboanga Peninsula Regional Athletic Association (ZPRAA) meet held in Dipolog City [...] Read more


Lamitan in state of calamity

18 Mar 2017 Hits:136 Be the first to comment!

The city council of Lamitan, last Wednesday, declared a state of calamity in the entire city. Vice Mayor Roderick Furigay said, the City Council concurred with the request of the barangay [...] Read more


Double barrel reloaded nets four more

18 Mar 2017 Hits:127 Be the first to comment!

Four more suspected drug pushers were arrested in another Project Double Barrel-Reloaded operation in Zamboanga City, last Thursday. Arrested were Gilbert Johnston y Dagoy, 48, single, of Sitio Lantawan, Barangay Pasonanca; [...] Read more


SSS releases March differential of P1,000 additional benefit

17 Mar 2017 Hits:118 Be the first to comment!

The state-run Social Security System on Thursday said it has already released about P2.1 billion to its partner banks for the release of the last tranche of the retroactive P1,000 [...] Read more


Aboitiz, DTI partner anew for Matigsalug livelihood project

16 Mar 2017 Hits:113 Be the first to comment!

AboitizPower subsidiary Therma South, Inc. (TSI) in partnership with Aboitiz Foundation, Inc. (AFI), has tied up with the Department of Trade and Industry (DTI) 11 to implement a comprehensive crafts [...] Read more


6th InfoCar meets with 100 IDPs

16 Mar 2017 Hits:101 Be the first to comment!

Some 100 internally displaced persons (IDPs) met with local and government agencies for a half-day engagement to discuss the progress and developments of the City’s rehabilitation and recovery efforts. Spearheaded by [...] Read more


Forwarding company robbed

15 Mar 2017 Hits:120 Be the first to comment!

The office of a forwarder company was robbed by unidentified burglars who carted away computer accessories, bank checks and cash. Police Station 11 report showed that the officer-in-charge of the Overseas [...] Read more


PAGASA forecasts late El Niño

14 Mar 2017 Hits:153 Be the first to comment!

The Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) forecasts the probability of El Niño in the country sometime in the later quarters of 2017. Chief Meteorological Officer Maribel G. Enriquez [...] Read more


NGCP launches program for aspiring transmission line personnel

14 Mar 2017 Hits:113 Be the first to comment!

System operator and transmission service provider, NGCP, formally introduces the Line Ranger School, a program that seeks young individuals who want to become the new generation of transmission line experts. During [...] Read more