AMPLE proof that Philippines-China relations are as strong as ever is the
recent signing of an estimated $9.5 billion worth of investment agreements with Chinese businessmen on the sidelines of the Boao Forum for Asia that President Rodrigo Duterte attended earlier this week.
These agreements are expected to generate no less than 10,800 new jobs, according to our Department of Trade and Industry.
The bilateral meetings of President Duterte with Chinese President Xi Jinping in Hainan have enhanced the blooming relationship between our two nations. This will be cemented further when China’s paramount leader visits the Philippines later this year.
Growing trade and investments from China underscore the positive impact of the independent foreign policy carried out by the Duterte administration. It will broaden our trade and economic cooperation with other countries apart from our traditional markets, such as the US, the EU, and the ASEAN.
China is now our biggest trading partner and our largest export market. This means that our pivot to China has proven beneficial to our economic growth. Investments from our giant neighbor would create more job opportunities for our growing labor force and help our poverty reduction efforts in a significant way.