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PIA Press Release
2007/04/19

Commentary: PGMA trip to boost RP-China ties

ROXAS CITY (19 April) -- Existing diplomatic and trade ties between the Philippines and China will be boosted when President Arroyo makes another official trip to China, April 20-21.

The President, who was originally set to visit China for five days, will speak at the Baoa Forum in China's Hainan province. While there, she will also sign trade agreements that could reach P2 billion.

The Chief Executive had to trim her original China schedule because of the aneurysmectomy and triple heart bypass operation performed on her husband, Jose Miguel Arroyo, after an aortic aneurysm.

Arroyo said the investments from China will further boost the country's economy, which the President described as now taking off as a result of varied fiscal reforms adopted by the government.

In January of this year, the President and Chinese Premier Wen Jiabao signed 19 agricultural agreements involving investments worth P240 billion ($4.9 billion) over the next five years.

The deals included five projects involving the production of ethanol which is one of alternative bio-fuels being tapped by the government to lessen the country's dependence on imported oil. China also has been taking steps towards this end.

The province of Capiz has made initial steps to export agricultural products to China as part of the trade ties being promoted by the Arroyo administration between the two neighboring countries. (PIA) [top]

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