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PIA Press Release

China pledges more investments in RP

JIANGXI, China (via PLDT/ SMART) (30 October) -- President Gloria Macapagal-Arroyo welcomed today the pledge of a top Chinese official that China will pour more investments into the Philippines.

The statement was made by Meng Jianzhu, secretary of the Communist Party of China-Jiangxi Provincial Committee and chairman of the Standing Committee of the Jiangxi Provincial People's Congress, during a meeting with the President at the Riverside Ballroom of the Sofitel Trilec Hotel.

The President arrived here Saturday as part of her five-day, five province official visit to the People's Republic of China (PRoC) to forge stronger bilateral, economic and trade ties with China.

The President's visit to Jiangxi, a sister city of Bohol, coincided with the signing of a Memorandum of Agreement (MoA) between the two provinces expanding their trade and friendly relations.

"I hope you will visit the Philippines, too so that we can carry out some of the things we will be signing tonight," the President told the Chinese official.

"When I have an opportunity, I will visit your beautiful country. We will advance our exchange and cooperation with Bohol province in economy and knowledge. We will also encourage our businessmen to make investments in your country," Jianzhu replied.

The MoA is a framework agreement on further enhancing friendly exchanges and cooperation between Jiangxi and Bohol. The agreement also covers business concerns, agriculture, tourism, mining, culture and education.

Jianzhu said he was confident that with President Arroyo as Chair of the Association of Southeast Asian Nations (Asean) Summit in Cebu City in December, relations between Asean and China will be "lifted to new heights."

"Under your leadership of Asean, I believe the economic and technological cooperation between China and Asean will be lifted to new heights. We are also ready to advance our cooperation in the economy and trade with the RP and Asean under your chairmanship," Jianzhu said. (PIA) [top]

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