The Philippines and China to strengthen their trade cooperation

 

 

 

Visiting China the Philippino president Rodrigo Duterte met his counterpart Xi Jinping. Accompanied by a delegation of 300 businessmen, Mr. Duterte stressed that his country has tourism as well as mineral and agricultural resources and China represents a huge market. The two countries are complementary and can further strengthen their cooperation.

 

 

 

Trade cooperation with amplication of economic cooperation for the active participation of China in building infrastructure in the Philippines (railways, urban rail transit, highways, ports). Foreign investment is crucial to the development of the Philippines.

 

 

 

The country is the second largest banana producer and provides about 95% of demand in Asian markets. Last year the Philippines exported 448,000 tons of bananas to China for an estimated USD 157.5 million.