The 28th Meeting of the Philippines-China Joint Commission on Economic and Trade Cooperation was held in Manila, the capital city of Philippines on March 7. Chinese Minister of Commerce Zhong Shan led the Chinese delegation to attend the meeting. Minister Zhong Shan and Philippine Minister of Industry and Trade Ramon Lopez co-chaired the meeting. After the meeting, they jointly signed the minutes of the meeting, and attended the press conference to introduce the main achievements. 

Zhong Shan said Philippines is the first country he visited since he assumed office as the Minister. This visit aims to implement the consensus reached by leaders of both sides, make preparation for Premier Wang Yang’s visit to Philippines next week, hold the 28th Meeting of the Philippines-China Joint Commission on Economic and Trade Cooperation and promote China-Philippines pragmatic economic cooperation and development. President Xi Jinping said that Philippines and China were neighbors that can not seperated. The two face each other across the sea. A near neighbour means more than a distant relative. Leaders of both countries have reached extensive consensus on developing China-Philippines relations and promoting pragmatic cooperation in various areas since President Duterte’s visit to China in October, 2016. This has opened a new chapter for bilateral ties. 

Zhong Shan stressed that Philippines and China are strongly complementary to each other in economy. The two countries take up one fifth of the world population, about one sixth of the world economic aggregate, but China-Philippines bilateral trade value takes up only 3‰ of the global trade over the same period of time. China boasts a potential market with 1.3 billion people, complete industrial system and supportive facility. We are open to all countries including Philippines. Meanwhile, we also encourage eligible Chinese enterprises to do trade and invest in Philippines. Not long ago, Chinese Ministry of Commerce and Philippine Ministry of Industry and Trade jointly held the China-Philippines Investment Cooperation Forum in Manila. Attending are over 300 entrepreneurs from both sides, many of them had the intention of cooperation. It fully reflects that cooperation is in the interests of the two countries and their peoples and the bilateral trade and economic cooperation embraces extensive and infinite room. 

Zhong Shan pointed out that the 28th Meeting of the Philippines-China Joint Commission on Economic and Trade Cooperation restarted the major mechanism which has been stranded for 6 years. Both sides have made frank and practical talks, reached extensive consensus and made fruitful results. 

Zhong Shan introduced major achievements in 6 aspects. 1. The two sides will strengthen strategic docking between the “Belt and Road” initiative and “Philippine Ambition 2040,” and provide more development opportunities for bilateral trade and economic pragmatic cooperation. 2. The two sides agree to officially sign the Six Year Development Plan for China-Philippines Trade and Economic Cooperation on the sidelines of Premier Wang Yang’s visit to Philippines next week, the Chinese financial institutions will provide necessary financing support for the implementation of relevant projects. 3. The two sides made in-depth talks and reached consensus on a batch of projects for prior cooperation and projects concerning people’s life. 4. The Chinese side would like to expand competitive imports from Philippines, encourage Chinese business to invest in Philippines and to be positively engaged in Philippine infrastructure construction and people’s life improvement projects. The two sides also discussed to jointly build industrial parks in Philippines, strengthen bilateral cooperation in manufacturing, and create more jobs for Philippine people. 5. The Chinese side supports the Philippine government under the leadership of President Duterte to develop economy, improve people’s life and create sound internal and external development environment. 6. The two sides agree to strengthen cooperation under the multilateral trade system, the Chinese side fully supports Philippines to serve as the rotating presidency of ASEAN, and would like to join efforts with Philippines to promote China-ASEAN regional cooperation, actively enhance RCEP negotiations and strive to reach agreement within the year.

Zhong Shan stressed that under the high attentions of leaders of both sides, with the boost of the two governments and joint efforts of people and entrepreneurs from both sides, China-Philippines trade and economic cooperation is bound to be vibrant in the future. 

Lopez said the Philippines-China Joint Commission on Economic and Trade Cooperation is an important mechanism for bilateral trade and economic cooperation and it’s a major follow-up action to transform consensus into practical achievement. Philippines thanks China for the support in infrastructure construction and China’s efforts to help Philippines realize economic and social goals. Philippines would like to conduct cooperation with China under the Belt and Road initiative, further strengthen bilateral trade and investment cooperation and continue to expand bilateral trade. He welcomes more Chinese enterprises to invest in Philippines and the Philippine side would like to provide necessary support and assistance. Philippines is full of confidence in the prospect of China-Philippines trade and economic cooperation.
 
Also attending were Chinese ambassador to Philippines Zhao Jianhua, officials from the Ministry of Foreign Affairs, the Ministry of Public Security, and General Administration of Quality Supervision, Inspection and Quarantine and business representatives as well as officials from the economic departments of Philippines.

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