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Philippines Aquino Will Visit China For &Nbsp Today, Possibly Signing A $7 Billion Contract.

2011/8/30 9:36:00 45

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Philippines Aquino Visits China 7 Billion

According to the Global Times published in August 30th, the president of Philippines should be invited by Chinese leaders.

aquino

III will carry out state affairs in China from August 30th to September 3rd.

Visit

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This is the first time that Aquino III has made a state visit to other countries outside ASEAN since he became president in June last year.

According to Philippines ABS-CBN news 29 reported that Aquino III visited China, hoping to sign a $7 billion contract with China.

The Philippine mining association's delegation is expected to win over $3 billion in mining investment and sign a mineral supply agreement with Chinese companies.

Philippines officials say Aquino III will meet with Chinese leaders during his 5 day trip to China.

The two sides will discuss business, investment, culture, tourism and other sensitive issues, such as the Filipino people who are being imprisoned in China.

Cai Congmiao, director of the Philippines Federation of industry and commerce, told the Global Times reporter that Aquino III will participate in a Sino Philippine entrepreneurs Investment Forum in Beijing, Shanghai and Xiamen, and carry out a one to one dialogue with the top Chinese enterprises to invest in Philippines to increase their investment confidence.

China's top 15 companies may have a one to one dialogue with Aquino III.

The mood of Aquino's third visit to China is generally high in Philippines.

The Philippines Daily Inquirer said that Aquino III had confidence in the success of her visit to China, and was convinced that Manila and Beijing could ease tensions in the South China Sea and build more mature bilateral relations and closer economic and trade exchanges.

China is currently Philippines's third largest trading partner and fourth largest source of foreign aid.

The Manila communique said that during the visit, China and the two countries will sign 6 agreements, including the five year development plan of Sino Philippine economic and trade cooperation, and hope to bring about 50 billion investment to Philippines by 2016.

The Philippines

On the 26 issue of the "business daily" published on the topic of "wishing the president a success," the constitution of Philippines said that the constitution of the Republic of China was "out of date". Many articles were outdated and constrained the economic development of the country. For example, foreign ownership could not exceed 40%, foreigners could not own the ownership of industrial land and commercial land, so it is imperative to amend these laws.

And this president's visit to China is the opportunity for the accompanying businessmen to display their skills. Through their needle and thread, a large number of Chinese funds and technology are imported to create the first achievement for Philippines.

Philippine officials familiar with the visit to Aquino III said that the purpose of his visit was to "repair the cracks in bilateral relations" and "promote mutual trust to ensure a peaceful and stable environment in the South China Sea".

Renato Cruz de Castro, a professor at the Institute of International Studies at La Salle University in Philippines, said that "summit diplomacy is more symbolic, with the purpose of creating a positive atmosphere for risk management.

What the two countries can do at the moment is to manage tension.

Terry Sita, visiting Deputy professor of Public Policy School of National University of Singapore, told the Global Times reporter that the 5 day trip of Aquino III to China was given to both sides by Li Guangyao.

South China Sea

There is an opportunity to ease tensions when the dispute over sovereignty is rising.

Terry Sita, for example, Aquino's visit to China is like a family member visiting his distant relatives.

They are close enough to forget each other until problems arise.

Their relationship is close enough, and for the sake of harmony in the whole family, we expect each other to be respected and courteous.

Dr. Eileen BA Vieira, director of the center for Asian Studies at Philippines University, told the Global Times: "China can invite Aquino III to visit China, which shows that we all attach importance to cooperation and expect the bilateral relations to take a step closer.

Territorial disputes are unfavorable to the development of economic and trade relations between the two countries, and hope that the two governments can solve the problem peacefully and amicably.