"We deserve better."
"We deserve better."
While the Unites States has played a major role in shaping Philippine economy since time immemorial, having been one of the country’s biggest trade partners (next only to Japan) and of course, playing demigods to almost all who held power in the Philippines, it seems it will only be a matter of time before it can be officially recognized we are no longer dependent on its dominance.
While 2017 statistics bare Japan, the US and Hong Kong as the top three trading partners of the Philippines in terms of export, latest data shows China emerging as atop export market destination for the Philippines, valued at nearly $940 million or 15.3 percent of the latter’s total exports in August, Philippine Statistics Authority said.
According to the trade data released on 10 October by PSA, China ranked first for the Philippines with exports valued at $939.98 million of the total exports for August 2018, increasing by 34.4 percent from $699.5 million value posted in August 2017.
And with the country’s blooming trade partnership with China, the Department of Trade and Industry announced it will participate in the first China International Import Expo in November in Shanghai, China.
As the Philippines’ main export and investment promotion agency, the DTI said it has organized the Philippines’ participation in the expo to further penetrate the huge Chinese market through country participation in trade expositions and facilitation of its business-to-business linkages.
Trade and Industry Secretary Ramon Lopez will lead the country’s CIIE participation this year, along with DTI Trade and Investments Promotions Group Undersecretary Nora Terrado.
“China is a priority market for the Philippines and we want to push for exports of our products and services. We are also keen on attracting Chinese investments,” Lopez said.
And this corner believes it was but a right move as producers all over the world are also aspiring for greater opportunities from CIIE as participants in the event including officials and company leaders are actively edging the competitiveness of their exhibits or products.
From the big beneficiaries of China’s opening-up policy like European auto-industry giants to fresh comers such as African food and beverage suppliers, there is a common aspiration to make best of the expo to promote their brands and products, and take bigger shares in the lucrative market of China.
German food giant Metro said that it wants to take the opportunity of the CIIE to showcase its strength in imports and global sourcing.
Companies which are believers of China’s development and beneficiaries of the opening-up policy make a big part of CIIE participants. Regional delegations also attach great importance to the platform, viewing it as a gateway and window to know better China’s market and development path.
So far, over 150,000 buyers from home and abroad are estimated to attend the expo. Apart from business exhibitions, 80 countries and three international organizations have confirmed their participation in the country-pavilion exhibition, which covers a total area of 30,000 square meters.
And no amount of bullying from the US in the world of trade can stop China, with all its agressiveness, in pursuing a mutually-beneficial partnership with the Philippines.
No less than Chinese Foreign Minister Wang Yi has been overseeing this endeavor, making a two-day visit to the country from yesterday, Sunday until today, directly flying to Davao to personally meet President Rodrigo Duterte.
Aside from meeting with his counterparts in preparation for President Xi Jin Ping’s visit to the country this November, Wang also reportedly met with local officials to discuss the future of a joint exploration between the two countries in the South China Sea.
This, is actually, is some sort of follow up to the third meeting of the China-Philippines Bilateral Consultation Mechanism on the South China Sea which took place last Oct. 18 in Beijing. Representatives of the two countries acknowledged the importance of the BCM as a venue for enhanced and regular dialogue that can play a significant role in the stable development of bilateral relations, through which both sides could address differences, prevent and properly manage incidents at sea and enhance maritime dialogue and cooperation.
It’s really about time we veered away from US dependence. Toeing the US line since we were supposedly granted independence has done nothing good for the country. We deserve better.