|In photo (from L-R): Philippine Commercial Counsellor to Beijing Mr. Glenn Peñaranda, EMB Director Senen Perlada, DTI Undersecretary Nora K. Terrado, Secretary Ramon Lopez, Chinese Ambassador Zhao Jianhua, Ministry of Commerce Deputy Director General Liu Jun, and Chinese Embassy Economic and Commercial Counsellor Jin Yuan during the high-level meeting on the sidelines of the CIIE information roadshow in Manila.
The Department of Trade and Industry (DTI) is working closely with the private sector in preparation for the country’s participation at the 1st China International Import Expo (CIIE) to be held in Shanghai, China on 5-10 November 2018.
On 15 March 2018, DTI jointly organized with Embassy of People’s Republic of China in the Philippines an information session about the first China International Import Expo (CIIE). The event was fully supported by the Philippine Chamber of Commerce and Industry (PCCI) and Bank of China (BoC). The event served as an avenue to encourage more Philippine companies to join the said exposition in November.
Trade and Industry Secretary Ramon Lopez further emphasized the blooming relations between China and the Philippines reflected in China’s strong support by opening up its market to Philippine companies.
“The expo is the only trade show in China to date that will feature foreign exhibitors. No Chinese companies on the exhibit floor. But there will be Chinese buyers present, as well as buyers from all over the world at the event,” explained Secretary Lopez.
“I ask Filipino businesses to participate and take this opportunity to showcase the trade capabilities of the Philippines,” urged Secretary Lopez.
Philippine Chamber of Commerce and Industry (PCCI) Chairman Emeritus Dr. Francis Chua, who served as the moderator for the first part of the information session urged Philippine companies to join PCCI and DTI in showcasing Philippine goods and services at the CIIE. “Sign up because fortune is awaiting for you in Shanghai,” urged Chua.
Meanwhile, Chinese Ambassador to the Philippines Zhao Jianhua shared the growing economy of China over the years and the wide-range of opportunities that the Philippine companies can take advantage of as trade relations between the two countries warm up.
“We need more products from the Philippines,” said Ambassador Zhao Jianhua. He further mentioned, “I am confident that sooner or later, China will be the number one importer of Philippine products.”
In 2017, China was the fourth largest importer of Philippine products behind Japan, US and Hong Kong. Over the last five years, total trade between China and the Philippines grew 12.08%. Total exported goods to China in the last five years (CAGR) reflected a decline by 0.12% while imported goods from China grew to 20.17%.
“Imagine the magnitude of CIIE, to be participated in by over 100 countries around the world, that is something that Philippine companies can take advantage,” said DTI Trade and Investments Promotion Group Undersecretary Nora K. Terrado.
Undersecretary Terrado added that the DTI will apply “whole country” approach and smarter strategies to maximize the country’s participation at the said expo.
“We will work closely with the private sector in ensuring that we attract Chinese and foreign investors in building value together as we urge them to partner with the Philippines,” Terrado added.
Announced by People’s Republic of China President Xi Jinping during the Belt and Road Forum, the CIIE is a major international event that opens the Chinese market to the world. China is expecting to import goods and services worth more than $10 trillion in the coming years. CIIE aims to provide enterprises across the world to enter this huge Chinese market. It will focus mainly on importation of goods and services to China.
There will be two main sections: trade in good and trade in services. The section of trade in goods includes six exhibitions areas: High-end Intelligent Equipment; Consumer Electronics and Appliances; Automobile; Apparel, Accessories and Consumer Goods; Food and Agricultural Products; and Medical Equipment and Medical Care Products. Meanwhile, trade in services section comprises Tourism Services, Emerging Technologies, Culture and Education, Creative Design and Service Outsourcing.
Date of release: 19 March 2018