MANILA -- Fifteen cooperation agreements and joint venture deals were signed with companies based in Fujian province, further enhancing trade and investment relations in sectors of agriculture, tourism, and real estate between the Philippines and China.
A delegation from the Fujian government, led by its Governor Tang Dengjie, visited Manila last week to explore ways of boosting economic ties with their Filipino counterparts.
According to the Department of Trade and Industry (DTI), among the business deals that were signed last week include the USD4.51-million purchase of banana from Del Monte Fresh Produce, as well as the USD6.27-million deal with Verde Horizon Agri-Ventures Corp.
“We have strong historical ties with Fujian Province and its people. Our proximity with each other has attracted so many Fujian investors to do business in the country and partner with other Filipino business groups,” said Trade Secretary Ramon Lopez.
“Fujian investors and members of their business sector have strong interest in investing in the Philippines considering our potentials. They would also like to ride on our growing economy and join us in maintaining its momentum,” Lopez added.
Moreover, the trade chief has encouraged Fujian businessmen to explore investment opportunities in the Philippines.
Lopez mentioned that the Philippines is a strategic location for the operation of Fujian businesses with the country’s over 100 million population. It is also a gateway to the 600-million market in Southeast Asia.
As a member state of the Association of Southeast Asian Nations (ASEAN), the Philippines has preferential trade agreements with the other member states of ASEAN, Japan, China, South Korea, Australia, New Zealand, and India.
The country is also benefiting from the generalized scheme of preferences from the European Union and the United States. (PNA)