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PIA Press Release

Trade, investments up in PGMA's four-day visit to China - Dureza

Manila (6 August) -- There is more to gracing the grand opening of the Olympic Games in Beijing.

Aside from providing the biggest moral booster to Filipino athletes, President Gloria Macapagal-Arroyo will also hold bilateral talks with Chinese President Hu Jintao during her Aug. 7-10 trip to China.

At a press briefing in Malacanang, Press Secretary Jesus Dureza said the bilateral meeting would be a big opportunity to further strengthen trade and economic cooperation between the Philippines and China and expand the two countries' two-way investment.

With Dureza during the media briefing were Presidential Management Staff (PMS) chief Secretary Cerge Remonde and Cabinet Secretary Silvestre Bello III.

Dureza said the Chinese side had requested for the meeting with the President.

The Filipino athletes participating in the Beijing Olympiad are all excited over the participation of people's boxing champion Manny Pacquiao as the country's official flag-bearer, and the President attendance and support for them.

The President has added P4.5 million to the cash pot for the Filipino gold medal winner in the Beijing Olympics, raising the total prize to P15 million.

Remonde added that the President's attendance in the World Games is part of her official obligation as one of the 80 heads of state invited to the event.

China is also one of the Philippines biggest trading partners, Remonde added.

This will be only the second time that the Olympic Games is held in Asia. The first was in 1964 during the Summer Olympics held in Tokyo, Japan.

Before gracing the opening of the Beijing Olympics, the President will visit Chengdu, the capital of Sichuan province.

One of the largest economies in inland China, Chengdu, with its rapid economic growth, has emerged as one of the most popular foreign investment destinations in China. (PIA-MMIO) [top]

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