Chinese investors bullish about RP

BEIJING, China—Chinese businessmen are upbeat in the country’s economic climate, according to a high-ranking Filipino diplomat based in Beijing.

Philippine embassy’s First Secretary and Consul Evangeline Ong Jimenez-Ducrocq said the economic relations between China and the Philippines have a lot of potentials for growth, with Chinese businessmen showing interest to invest in the country.

“The demand for visa applications by Chinese investors visiting the Philippines remained good,” she noted.

The trade relations between the two countries have been enhanced over the years with the existence of Chinese-Filipino businessmen in the Philippines, with more people in the mainstream further strengthening this relationship.

She said one of the vehicles expected to boost economic relations is the ASEAN-China Free Trade Agreement “which we hope would further improve trade relations among countries”.

Asked if the free trade agreement would be beneficial to the Philippines, the Filipina diplomat said “it should be” though she admitted there is a need to educate the people about it, including customs brokers, [and] traders who need to fill up documents to avail of tariff reduction.”

She said it would be too early to tell how effective the free trade agreement would be because it would take a few years to see its results.  CBCP News


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