The Department of Trade and Industry said Tuesday the Philippines will sign over $10 billion worth of investment and trade deals during a trade mission to China this week.
The mission and the agreements are expected to translate into around 20,000 new jobs.
“We are vetting groups and their plans and possible agreements on investments and trade,” said Lopez who will lead the Philippine team to the 2nd Belt and Road Forum in Beijing on April 25, 2019.
More than 15 agreements, which cover trade and investment on food, energy, power, infrastructure, technology, and services, will be signed between Chinese and Philippine companies during the trip.
“The Trade Department is continuously seeking investment opportunities from our country partners to bring home jobs and business opportunities for more Filipinos,” said Lopez.
The forum aims to finance developmental projects in Southeast Asia, including the Philippines, for cultural, tourism and environmental project proposals.
The Silk Road Chamber of International Commerce will also pitch for developmental projects that may help resolve issues on the environment.
There about 129 Silk Road chambers from 177 countries, including the Philippine Silk Road International Chamber of Commerce. Francis Chua chairs the Philippine chamber.
The forum is a regional concept created by China to connect Asia with Africa and Europe through land and sea networks along six corridors. It aims to foster cohesiveness in the region and economic growth.
The initiative was patterned after the Silk Road established during the Han Dynasty 2,000 years ago”•an ancient network of trade routes that connected China to the Mediterranean for centuries.
It comprises a Silk Road Economic Belt”•a trans-continental passage that links China with southeast Asia, south Asia, Central Asia, Russia and Europe by land”•and a Maritime Silk Road, a sea route connecting China’s coastal regions with south east and south Asia, the South Pacific, the Middle East and Eastern Africa and Europe.