The continuation of trade with China is advocated

The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) and the Department of Trade and Industry advocate for the Philippines to maintain and strengthen trade ties with China despite escalating tensions in the West Philippine Sea.

Cecilio Pedro, president of FFCCCII, emphasized the importance of continued trade between the Philippines and China, emphasizing that trade serves as a bridge to foster better understanding between nations, even amid challenges in the West Philippine Sea.

Trade Undersecretary Ceferino Rodolfo echoed Pedro’s sentiment, emphasizing the role of trade as a catalyst for peace. Despite ongoing issues, Rodolfo highlighted the need to intensify efforts to enhance economic and trade relations between the Philippines and China.

China remains one of the Philippines’ most significant trading partners, with bilateral trade exceeding $40 billion in value in 2023. Additionally, China ranks among the top sources of approved foreign investments in the Philippines, totaling nearly $3 billion from 2018 to 2023.

As the Philippines aims to become a regional hub for sustainability, connectivity, and innovation-driven manufacturing services, Rodolfo emphasized the importance of collaboration with China, particularly in sectors like mineral processing. He encouraged Philippine firms to participate in the upcoming Canton Import and Export Fair to explore sourcing opportunities and attract Chinese investments.

Guangdong province, which hosts the Canton Fair, plays a crucial role in enhancing trade relations between the Philippines and China, accounting for a significant portion of bilateral trade.

Pedro highlighted China’s vast market as offering export opportunities for Philippine firms, emphasizing the potential for mutually beneficial trade between the two countries. He urged Philippine businesses to explore avenues for exporting to China while also welcoming Chinese firms to do business in the Philippines.

Business News: The continuation of trade with China is advocated