Xi pledges to balance Philippines-China trade: Trade chief Lopez


Posted at Aug 30 2019 09:59 AM

Xi pledges to balance Philippines-China trade: Trade chief Lopez 1
Chinese President Xi Jinping (R) speaks to Philippine President Rodrigo Duterte (not pictured) during their meeting at the Diaoyutai State Guesthouse in Beijing, China, Aug. 29, 2019. How Hwee Young/Pool via Reuters

MANILA -- Chinese President Xi Jinping reiterated his policy to import more from the Philippines and balance trade between the two nations, as he met with President Rodrigo Duterte, a Filipino official said Friday.

China plans to buy more goods from the Philippines, especially agricultural and agro-based products, said Trade Secretary Ramon Lopez, who is part of Duterte's official delegation to Beijing.

Lopez said his Chinese counterpart, Zhong Shan, "reinforced" Xi's pronouncement.

Philippine exports to China have been growing at an average of 10 percent in the last 3 years, he said.

"Chinese companies are also encouraged to invest in the Philippines to help increase jobs and production capacities that will enable the Philippines to enhance its exports capabilities," he said.

Some 300 Chinese and Filipino businessmen registered to attend a business forum with Duterte in China later Friday, he said.