The Philippines pitched to Chinese investors potential partnerships in critical sectors that will shape the country’s capabilities in sustainable and strategic manufacturing and services, such as those that involve green metals and mining, renewable energy, and new energy vehicle and battery production.
Ceferino Rodolfo, undersecretary of the Department of Trade and Industry (DTI) led the discussions on possible partnerships in a roundtable meeting on the sidelines of the China International Fair for Investments and Trade (CIFIT) on September 8 to 11 in Xiamen.
The Philippine participation in CIFIT, its largest by far, showcased the country’s numerous advantages for foreign direct investors in key sectors such as sustainable manufacturing and services.
Over 70 Philippine-related business delegates participated in matching sessions, booth-related meetings, and company presentations held on the sidelines of the CIFIT.
“The Philippines is not just eyeing for growth in investments but for the transformation of the country’s investment landscape,” Rodolfo said.
Fujian is a major contributor to China-Philippine trade, with two-way trade valued at USD 9.43 billion based on China Customs’ data. Furthermore, the total trade between the Philippines and Fujian achieved an average five-year growth rate of 7.2 percent.
Fujian’s major imports from the Philippines in 2023 are nickel ores, SSD, Copper ores and alloy, Sodium tungstate, rigid disk drivers, integrated circuits, headphones, etc.
