“Improved relations with China does not mean we will waver in our interest on West Philippines Sea.”
President Rodrigo Duterte (Sona 2018)
The Philippines and China established diplomatic ties on June 9, 1975. Since then, the two nations’ bilateral collaboration has achieved unprecedented heights in terms of political/security and regional cooperation, commerce, investment, agriculture, tourism, and cultural and people-to-people interactions, all of which have benefitted the two countries and peoples. As stakesholders in the Asia-Pacific region’s peace and prosperity, the two nations have also worked closely on a variety of regional and international problems that have a significant impact on the region’s stability and economic growth.
Trading Partnership
In 2019 China is known as philippines’ top trading partner, import source and export market destination. Bilateral commerce between the Philippines and China reached close to $50 billion in 2019, up 17 percent over the previous five years. China is known as one of the second largest foreign investors of the Philippines.
As of January 2022, the People’s Republic of China was the Philippines’ largest provider of imported products. China’s imports were valued at around 2.07 billion US dollars. Japan and the Republic of Korea were also important import trading partners.
According to the Secretary of Trade and Industry of Philippines, Ramon Lopez said that tropical fruits from the Philippines, such as bananas and avocados, are being served on the dinner tables of an increasing number of Chinese households. Philippine agricultural product exports to China have expanded fast, and it is hoped that China would continue to enhance market access for Philippine agricultural products.
What are your thoughts about the trading partnership between China and Philippines? Share your opinions in the comment section.
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