Metro Manila (CNN Philippines, January 5) — Chinese President Xi Jinping committed to narrow the Philippines’ trade deficit gap as China readies to accept high-value Philippine agricultural products, Malacañang said on Wednesday.
The Palace said during a bilateral meeting with Xi, President Ferdinand Marcos Jr. said China has become the Philippines’ largest trading partner, but he noted an imbalance between exports and imports.
“I’m very glad that we are in the process of finalizing the rules and regulations for the import by China of fruits from the Philippines,” Marcos said.
“And I believe that very soon now, we will be able to see the different fruits… the high-quality agricultural products coming from the Philippines start to come into China to balance the trade situation that we have between China and the Philippines,” he added.
Developmental efforts
Xi also affirmed his commitment to work with Marcos to strengthen Manila-Beijing relations, vowing to extend assistance to the Philippines in various areas such as in agriculture, energy, and infrastructure.
“Mr. President, your current trip is a trip to honor history, but more importantly, it is to open up the future. I look forward to having discussions with you to carry forward the friendship and further promote [our] bilateral relationship,” Xi said in his welcome remarks.
“Together, let’s deepen cooperation and draw out a blueprint with China-Philippines cooperation in the new era. This way, we will bring more benefits to our people and contribute to peace and stability in the region,” he added.
In response, Marcos said the Philippines and China should strengthen their partnership to make the two countries stable and strong and to keep the region a driving force behind the new global economy.
In almost 50 years, he noted, China and the Philippines have established many partnerships in different areas of society, economy, culture, and people-to-people exchanges.
Marcos also said he “looks forward” to welcoming Chinese travelers visiting the country once the COVID-19 situation in China becomes more manageable.
“We are hoping that after the pandemic becomes more manageable, that we will not only return to the path that we were on before the pandemic but that we even build-up to greater heights… [in] our participation in joint programs and joint ventures together,” Marcos said.
“And that this is one of my main goals that I hope to achieve as we are here in China and meeting with you, Your Excellency. We hope to achieve to further that relationship that we have,” he added.
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According to Marcos, 1.6 million Chinese tourists visited the Philippines before the pandemic, and tourism’s “transformative power” was the reason why his administration made it a top priority.
