NEW CHINESE TRADE MINISTER MARKS FIRST OFFICIAL VISIT TO PHL. On his first official visit to the Philippines, China’s newly-appointed Ministry of Commerce (MOFCOM) Minister Zhong Shan (R) met with the Philippines’ Department of Trade and Industry (DTI) Secretary Ramon Lopez (L) on 7 March in Makati during the 28th Philippine-Chinese Joint Commission on Economic and Trade Cooperation (JCTEC). Serving as the official bilateral mechanism for discussion of trade, investments and economic cooperation, the JCETC was convened after a five-year hiatus, and serves as a quick follow through of President Rodrigo R. Duterte’s State Visit to China last October 2016. Both sides agreed on important initiatives geared towards improving overall levels of trade and investment between the two countries. Discussion highlights included the Six-Year Development Program for Economic and Trade Cooperation (SYDP) that will serve as the overall framework for economic relations from 2017-2022, the list of priority infrastructure projects to be funded by available Chinese credit facility and potential private sector investments from China on oil downstream projects, aviation industry (including aircraft parts manufacturing), waste to energy through gasification, ship building, and ship repair facility and integrated steel facility.
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Topic: China’s newly-appointed Ministry of Commerce (MOFCOM) Minister Zhong Shan (Read 355 times)