Chinese Ambassador to the Philippines Huang Xilian said Thursday that China is looking forward to more vigorous efforts by the Department of Trade and Industry (DTI) to elevate the investment cooperation between the two countries. Huang said the next five years are "a crucial period" both for the Philippines and China. The Philippines must ensure the implementation of the Marcos administration's eight-point socioeconomic agenda, while China must "build a modern socialist country in all respects," he said. "To bring bilateral trade and investment cooperation to a new level, we hope that local governments and enterprises will deepen cooperation, improve the development plans for the parks, and roll out more investment projects," Huang said at the China-Philippines Economic and Trade Cooperation Exchange Conference. "We also look forward to the leading role of the Department of Trade and Industry in optimizing industrial layout and providing policy guidance for the development of the parks," he added. Photo courtesy of Chinese Ambassador to the Philippines Huang Xilian
Huang also encouraged entrepreneurs from both countries, "with a daring spirit, to make full use of the preferential policies" of the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement between the ten member states of the Association of Southeast Asian Nations (ASEAN) and their five partners, which include China. Huang also called on the businesses to promote investments in mining, agricultural product processing, warehouse development, logistics, and deepen cooperation in the electronics and automotive industry chains. "We believe that as we work together, the 'Two Countries, Twin Parks' cooperation will further our bilateral economic ties and better benefit our peoples," he added.