Trade promotes development and peace in the Philippines and China, according to the participants of the 135th Canton Fair Roadshow which was held on March 26 at Seda Hotel in Taguig City.
The event drew prominent figures, including Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) president Cecilio Pedro, Philippine Exporters Confederation president and CEO Sergio Ortiz-Luis Jr., Philippine Chamber of Commerce and Industry (PCCI) president Enunina Mangio, Department of Trade and Industry Undersecretary Ceferino Rodolfo, Trade Counselor of the Chinese Embassy in the Philippines Yang Guoliang, CEPA president Hu Xinquan and heads of various companies.
“We live in an interconnected world where prosperity and peace are intertwined through economic development,” Pedro said. “Trade has become a modern force for dialogue, understanding and lasting friendship between countries.”
Pedro urged participants to collaborate in fostering mutually beneficial trade between the Philippines and China. He expressed the chamber’s support for the upcoming Canton Fair in Guangzhou City.
“Despite complex geopolitical challenges,” Pedro said, “I believe the path to peace and prosperity lies in firm economic cooperation between the Philippines and China. China has been the Philippines’ top trading partner for eight years, from exports of Mindanao bananas and durians to renewable technology joint ventures and many other opportunities.”
Rodolfo, who also heads the Board of Investments, expressed optimism that strong economic relations and deep friendship can help overcome difficulties.
“Here in the Philippines, for example, we see many Chinese couples playing with their children in BGC,” Rodolfo said. “They view the Philippines as home, and Filipinos continue to travel to China. These continuous exchanges are the solid foundation of our friendly relations.”
Rodolfo said China is a significant source of foreign investment in the Philippines. From 2018 to 2023, China invested nearly $3 billion. In 2023, China was the Philippines’ largest trading partner, second-largest export market, and largest import source.
“The bilateral trade volume exceeds $40 billion, proving the constant development of our economies,” Rodolfo said.
Yang Guoliang and Hu Xinquan also acknowledged the growing economic trade between the two countries, highlighting its importance in promoting development and peace.