Marcos Jr administration to strengthen ties with China, SEA countries

Philippine President Ferdinand R. Marcos Jr. graced the 19th edition of the China-ASEAN Expo  (CAEXPO) through a pre-recorded video message during its opening ceremony. With a strong  invitation to welcome new opportunities to the country, the president highlighted that the  Philippines is “very much open for business.” 

CAEXPO is an annual international event held since 2004 with the aim of promoting the China ASEAN Free Trade Area (CAFTA). It is considered a platform for cooperation in the fields of  trade, investment, tourism, and diplomatic relations between ASEAN and China. This year’s  edition was held at the Nanning International Convention & Exhibition Center (NICEC) in China  from September 16-19, 2022 with the theme “Sharing new opportunities of the New Land-Sea  Trade Corridor, Jointly Building the China-ASEAN Community with a Shared Future.” 

In his speech, the president extended an invitation to China to continue being its economic  partner. “As we move forward and move toward stronger ties with China, we hope you can join  the Philippines as it embarks on a mission to apply science, technology, and innovation to make  our products and services more competitive in the global market and to pave the way for our  country’s industrial transformation.”  

Further, he underscored the importance of building dynamic industry ecosystems as a foundation  for “generating quality jobs, creating new products and services, improving environmental  sustainability, and ensuring shared prosperity for all.”

Encouraging the CAEXPO attendees to visit the Philippine pavilion, the president also promoted  the country as a viable opportunity for investments across different sectors. He highlighted  several industry clusters such as Industrial, Manufacturing, Transport (IMT); Technology, Media,  and Telecommunication (TMT); and Health and Life Sciences. 

The event is expected to strengthen the relationship of the Philippines with ASEAN neighbors  and China, the country’s top trading partner. In 2021, the Philippines and China’s total bilateral  trade was USD38 Billion, which was 25% higher than 2020. 

A Philippine delegation of 21 food and lifestyle MSMEs took part in the exhibition component of  the hybrid event. Showcasing under FOODPhilippines, the banner that positions the country as  an exporter of healthy, organic, natural, and specialty food products and services. The  participating brands and manufacturers highlighted the importance of local natural commodities.  From the Philippines’ top premium export products, coconut products, coffee products, banana  chips, and banana powder were showcased in the event. Emerging food products such as  turmeric, calamansi juice concentrate with bignay, and ube powder were also displayed. 

CAEXPO’s Philippine organizing committee consists of CITEM, Philippine Board of Investments  (BOI), the DTI regional offices, and the DTI Philippine Trade and Investment Centers in  Guangzhou, Beijing, Shanghai, and Hong Kong.

Leave a Reply

Your email address will not be published.