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PIA Press Release
2007/04/23

Commentary: PGMA's swift trip to China, investments to RP expanding

By Jessie R. Valdez

San Fernando City, La Union (23 April) -- The planned 5-day visit of President Gloria Macapagal Arroyo to China to attend the 15th Boao Forum for Asia (BFA) as one of the main speakers was cut to one day only but despite the short stay there, much had been accomplished for the good of the country.

Press Secretary and Spokesperson Ignacio Bunye said in a statement in his column "Speaking Out", President GMA's shortened visit was successful not only because she has secured $1Billion for investments but the President was praised by political and business leaders who attended the forum for her work ethics and style of governance.

One of them was Pakistan Prime Minister Shaukat Aziz who has been here in the country for quite some time expressed admiration for the remarkable growth of the country under the leadership of Pres. Arroyo. Sec. Bunye added that in Pres. GMA's speech, she also acknowledged the growth of China and India and that "the Philippines benefits from the growth of the two countries since it can lift up the country as it lifts up other countries too."

The several business deals okayed by China which totaled to $1 billion, aims to create new jobs for the Filipinos and support infrastructure development, the Press Secretary said.

Among the agreements signed were: a Memorandum signed between the DEPEd and Tsinghua Tongfang Nuctech Co. for ICT and this business pact reached an estimate of $465.5M, a total of $329.5M supply contract for national broadband network for the improvements of government community capabilities while $4.64M for export of Philippine mango pulp to China from 2007-2008.

The last deal was a $30-M agreement to export tapioca to China for 5 years and was signed by Eastern Petroleum President Fernando Martines & Guangxi Chairman Pan Rui Jian.

Her trip signals the ceaseless initiative of our government to influence the shape of trade and cooperation between China and other nations as well as strengthen economic environment and confidence. Philippines recognizes the increased aid assistance or security cooperation of international communities as well as investments between China and Philippines is expanding and that it is expected that more Chinese companies will invest in the country.

In like manner, the swift visit of President Arroyo in China shows her commitment for the country and her sacrifice considering the situation of First Gentleman who have undergone a very delicate operation in his heart. (PIA La Union) [top]

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»Commentary: PGMA's swift trip to China, investments to RP expanding
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