Trade exec eyes more investments from China; leads PH delegation at 14th China-ASEAN Expo

 

Spearheading promotion efforts under the blooming economic relations with China, Department of Trade and Industry (DTI) Undersecretary for Trade and Investments Promotion Group Nora K. Terrado led the Philippine Delegation to the 14^th China-ASEAN (CAEXPO) and 14^th China-ASEAN Business and Investment Summit (CABIS) held from 12 to 15 September at the Nanning International Convention and Exhibition Center (NICEC) in Guangxi Province, China.

 

Comprising the Philippine contingent of over 100 participants are local export companies, Investment Promotion Agencies (IPAs) such as the Board of Investments (BOI), Bases Conversion and Development Authority (BCDA), Subic Bay Metropolitan Area (SBMA), Clark Development Corporation (CDC), and the Mindanao Development Authority (MINDA) as well as businessmen and government sector representatives aiming to promote Philippine tourism and business opportunities to the huge Chinese and Southeast Asian market.

 

“This is an opportune time for the Philippines to fully present its potential as an investment destination to the Chinese market. It is also a chance for Philippine exporters to meet with potential partners and buyers of their products and services and see how they can maximize the booming trend in China,” said DTI Undersecretary Terrado.

 

The country’s contingent in China highlighted the Philippines’ trade potential through an exhibit of products and commodities from various sectors, including home, fashion and wearables, gifts, handicraft, personal care, and food.

 

Moreover, the Philippine participation also gave spotlight to this year’s Philippine featured destination, the province of Aurora. Tagged as the “Province of Charm”, the Aurora provincial government led by Vice Governor Rommel Angara, presented its booming tourism industry and economic potential particularly its agriculture sector.

 

“High on our agenda as we send Philippine trade missions abroad is opening more opportunities for countryside development. That is why we are happy to introduce Aurora province to the Chinese and Southeast Asian market as it has tremendous potential in the tourism and agriculture sector,” explained Terrado.

 

Currently, Aurora’s growth is primarily driven by agriculture. The sector employs approximately half of its population with about 49,991 hectares or 15% of the provincial land area classified as cultivated farmlands. Major crops include rice, coconut, coffee, bananas, root crops, corn, citrus fruits, peanuts, and abaca. The province is also a major producer of the Philippine’s coconut distilled alcoholic drink known as “lambanog,” and “tuba” which are made from the sap of coconut tree flowers.

 

Terrado served as the key speaker at the China-Philippines Production Capacity and Investment Cooperation Forum co-organized by the National Development and Reform Commission of China and the National Economic and Development Authority (NEDA) of the Philippines.

 

Meanwhile, a Philippine Investment Promotion Conference was also held at the sidelines of the CAEXPO on 13 September, jointly organized by DTI Board of Investments, Center for International Trade Exhibitions and Mission (CITEM) and Philippine Investment Promotion Agencies (IPAs).

 

The China-ASEAN Expo (CAEXPO) is co-sponsored by Ministries/Department of Commerce or industry and trade of China and the 10 ASEAN member states and was organized by the People’s Government of Guangxi Zhuang Autonomous Region. It is considered as the second biggest trade event in China, with a total exhibition space of about 122,000 sqm. This year’s CAEXPO had 4,600 exhibition booths with around 57,000 visitors.

 

CAEXPO has grown into an event of special international influence and plays an important role in promoting the China-ASEAN friendly cooperation and building the 21^st Century Maritime Silk Road.

 

For the 14th CAEXPO, the theme is to “Jointly Build the 21st Century Maritime Silk Road, Promote Regional Economic Integration through Tourism,” highlighting the vast potential of tourism industry between ASEAN and China. Through this international trade fair, China eyes to connect and boost its investments in ASEAN countries and provide infrastructure networks particularly for micro, small, and medium enterprises (MSMEs) to participate in the global value chain.

 

Philippine participation at the 14^th CAEXPO is in partnership with the Philippine Department of Trade and Industry and in close collaboration with The Philippine Consulate General and the Philippine Trade and Investment Center in Guangzhou.