President Duterte’s trip to China this week resulted to the signing of PH and China $ 13.5 billion deal as said by Trade and Industry Secretary Ramon Lopez last Thursday.
At a Business Forum, Lopez gave a remark after Chinese President Xi Jinping came across President Duterte. Lopez mentioned that the visit was a “milestone” that could help to straighten out the ties between China and Philippines after the dispute in the South China Sea.
President Duterte prioritizes trips to ASEAN and Asian countries for economic integration. Another result was the opening of opportunities for trade and investments.
It was also mentioned that ties with the west will continue to be pursued. However, our country longs for a stronger union with our neighbors.
Here is the list of agreements between China and the Philippines:
-MOU on Production Capacity and Investment Cooperation and the Agreement on Economic and Technological Cooperation between the Government of China and the Philippines.
-MOU on Strengthening Trade, Investment and Economic Cooperation, the MOU on Drafting China-Philippines Economic Cooperation Development Plans and he Tourism MOU Implementation Plan 2017-2022.
-MOU on the list of Transportation and Infrastructure Cooperation Projects and the MOU on Financing Cooperation between the China’s EXIMBANK (Export-Import Bank of China) and the Department of the Treasury of the Philippines.
-Agricultural Cooperation Action Plan 2017-2019 and the Protocol on Cooperation between PDEA of the Philippines and the Narcotics Control Bureau of the Ministry of Public Security of China.
-MOU on the Establishment of a joint Coastal Guard Committee on Maritime Cooperation and the
-MOU on Supporting Conduct of Feasibility Studies for Major Projects.
-MOU on News and Information Exchange Training and for Other Purposes
-MOU on Cooperation on Animal and Plant Inspection and Quarantine.
Also, China committed $ 9Billion for the PH Development Drug Rehab. They committed a soft loan for the diverse development projects that includes drug rehabilitation programs.
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