More business exchanges seen between Cebu and China in 2019

LOCAL businessmen see the need to tap more into the Chinese market, citing improved relations between the China and the Philippines.

A development that will continue to boost the business exchanges between the two countries in the next year.

In Cebu, the Cebu Chamber of Commerce and Industry (CCCI) will be mounting more trade missions to the country next year.

“China is a favorite because there are so many things they are aggressive now. But we have to be selective,” said CCCI President Antonio Chiu.

As early as now, he said the CCCI was already planning at least two trade missions to different cities in China within 2019.

Earlier this year, the CCCI sent a 50-person delegation to the first China International Import Expo (CIIE) in Shanghai from November 4 to 7.

The expo focused on showcasing goods which can be imported by China and almost all exhibitors were from foreign companies.

Before the CIIE, the CCCI also joined a delegation to a trade mission in Xiamen, China together with the Cebu provincial government.

“China has been focusing on the Philippines insofar as loan grants are concerned, which is a promise of the Government of China,” Chiu said.

This is why businesses would also want to take advantage of this.

For their part, the Chinese Consulate in Cebu is also considering more exchanges between Cebu and China.

Newly appointed Consul General Jia Li said he was planning to locally implement the agreements between the two countries, which were made during a recent state visit by China President Xi Jinping to the Philippines.

“During my term of office, I will implement cooperation plans in various fields in accordance with the agreements reached between the leaders of the two countries,” Li said in a statement.

Among the key areas for cooperation between the two countries are infrastructure construction, agriculture, manufacture industry, trade, education, humanities exchange, and tourism.

“I also intend to organize economic and trade fairs to promote more Chinese companies to invest, and also encourage Philippine entrepreneurs to go to China to find business opportunities,” he added.

At the same time, Li said they were also encouraging the Philippine government and Philippine enterprises to actively participate in the construction of the “Belt and Road” and participate in the CIIE and the China-ASEAN Exposition to enhance the level of bilateral economic and trade cooperation between the two countries.

According to Li, during President Xi’s meeting with Philippine President Rodrigo Duterte, they reached a consensus on the upgrading of bilateral relations between the two countries.

One of the visit’s highlights was the signing of 29 cooperation documents, including the Memorandum of Understanding on Cooperation on the Belt and Road Initiative, covering the fields of agriculture, industry, finance, infrastructure, energy, education, science and technology, and humanities.

Li said that the Chinese side had mature technical experience and a relatively complete production management system in the fields of agriculture, industry, infrastructure, and service industries.