The Philippines is hoping to convene the next trade and investment dialogue with China this year, four years after the last discussion in 2017.
“Even with the pandemic, we’re looking forward to the convening of the 29th Philippines-China Joint Commission on Economic and Technical Cooperation (JCETC) at the soonest possible time this year through videoconference,” Department of Trade and Industry Ramon Lopez said in his speech at the Association of Philippines-China Understanding forum this week.
Lopez said he is looking forward to strengthening economic ties between the Philippines and China as the country recovers from the impact of the coroanvirus disease 2019 (Covid-19) pandemic.
“(W)e hope that you will partner with us to build back better towards a better and brighter post-Covid future. And through the jobs and employment generated by the business and investments you bring in, the Filipino people will also gain a more comfortable and higher quality of life as promised by our President Rodrigo Roa Duterte,” he added.
For the past two years, China has been the second largest investment partner of the country.
Citing data from the Chinese Ministry of Commerce, Lopez said project contracts signed by Chinese enterprises in the Philippines rose 27.9 percent over the last three years.
In 2019, newly-signed contracts surged by 102 percent to $6.4 billion, and reached $9.59 billion last year. SOVEREIGNPH