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Manila Bulletin devider Philippines devider National devider PH trade figures with Hong Kong depict good relationship --- DTI

PH trade figures with Hong Kong depict good relationship --- DTI

Published Mar 14, 2024 04:51 am

Current trade figures between the Philippines and Hong Kong depict Manila's strong bilateral relations with China's special administrative region, a Filipino trade official said.

Speaking at the Spring Dinner Reception hosted by the Hong Kong Economic and Trade Office (HKETC) on Wednesday night, Department of Trade and Industry (DTI) Undersecretary Allan Gepty cited the country's bilateral trade with the Chinese region, which amounts to 13.8 billion US dollars.

There is also a trade surplus of 7.38 billion US dollars in favor of the Philippines, Gepty added.

Hong Kong even ranked sixth among the Philippines' top trading partners in terms of total trade or export market, and 11th import supplier, he also said.

"These figures (are) a testament to our strong and dynamic economic ties," Gepty said.

"Let us...celebrate the strong and dynamic bilateral relations between the Philippines and Hong Kong, China—relationship built on mutual respect cooperation and shared goals," he also said.

HKETC hosted on Wednesday a dinner reception attended by a wide-range of notable personalities, including China's top diplomat in Manila, Ambassador Huang Xilian, to look back on Hong Kong's partnership success with the Philippines in the past year.

Gepty said the Philippines is looking forward to liberalization of market access to and deeper dynamic engagements with the Chinese region, including through Hong Kong's participation in the Regional Comprehensive Economic Partnership (RCEP).

"With that, we can see Asia and Hong Kong, China...stimulate economic development in the region," he said.

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