PBBM’s China visit boosts trade, investment
‘As Chinese companies pursue ‘going out’ strategies, we can partner while providing support through Philippine talent as a strategic resource. In particular, technological, soft and people skills will be critical in the services and digital industries.’
President Ferdinand R. Marcos Jr.'s China visit from 3 to 6 January next year is a recognition that the world's second-largest economy is an important trading and investment partner, Trade and Industry Secretary Alfredo Pascual said.
"The President's visit to China will pave the way for further strengthening our trade and investment relations, particularly as we work to recover from the pandemic and position the Philippines as a regional hub for sustainable and innovative manufacturing and services industries," Pascual told reporters on Thursday night.
Aside from First Lady Liza Marcos, Pascual will be part of Marcos Jr.'s state visit to China, along with other key officials such as former President Gloria Macapagal Arroyo, House Speaker Martin Romualdez, Foreign Affairs Secretary Enrique Manalo, Finance Secretary Benjamin Diokno, Information and Communication Technology chief Ivan Uy, and other Cabinet Secretaries whose presence "may be needed to sign bilateral agreements with their Chinese counterparts."
Roundtable with Chinese firms
Pascual said the DTI has organized a series of roundtable meetings for the President during the state visit with major Chinese companies with existing and planned investments in the Philippines in the key sectors of complementation with China, specifically agribusiness, renewable energy, steel making, nickel ore processing and battery production, and electric vehicle manufacturing.
Chinese importers of tropical fruits from the Philippines, he added, will also participate in the meetings.
He said the China visit also aims to build on the export gains and further strengthen relations with key partners in China to help the Philippines realize its additional export potential.
"The sectors with the most considerable export potential to China include, among others, electronic equipment, electrical machinery, metals, optical products, watches, medical instruments, fruits, motor vehicle parts, processed or preserved food products, and fish and shellfish," Pascual told members of the media via Viber.
He added that the Chief Executive will be accompanied by a delegation composed of business executives from Philippine companies with existing and/or prospective business partnerships with Chinese enterprises. Such partnerships include investments and exports.