THE Philippines and China have agreed to restore its Joint Commission on Trade and Economic Cooperation by early 2017, Chinese Ministry of Commerce official said on Tuesday.
Department of Asian Affairs of China’s Commerce Ministry director general Wu Zhengping said both countries are now starting to discuss possible cooperation in infrastructure and trade improvement including the establishment of railways, airports, expressways, among others.
“I think China and the Philippines are good neighbors and friends for centuries. I think the cooperation between China and the Philippines will benefit both countries,” said Wu, who arrived on Monday.
“The reason why we want to invest to the Philippines is to take advantage of the dynamic growth of the Philippines, and use Philippines as a gateway to neighboring countries,” he added.
During his meeting with the officials of National Economic and Development Authority, Department of Public Works and Highways, and Department of Trade and Industry, Wu said they are starting to craft a framework under the Joint Commission on Trade and Economic Cooperation.
“It was a fruitful and successful meetings with the Philippine trade and economic officials for the past two days,” Wu said.
He said there are several cooperations that they have discussed including the improvement of infrastructure of ports, airports, railways and other means to further enhance the trading system of the Philippines among its neighbors.
“We are designing the framework to implement the projects…we all agreed that we will need to do the things right,” Wu said, adding that some of the projects will be under the Public-Private Partnership program.
Aside from infrastructure, Wu said, Chinese companies are also starting to invest with Filipino farmers who produces crops such as banana, mangosteen, and pineapple, among others.
He said there are more than 20 companies from China who already inquire to invest and take advantage the economic growth of the Philippines.