BUSINESS groups are expecting “economic gains” from President Ferdinand Marcos Jr.’s state visit to China this week, the country’s largest employer group said.
“The delegation normally with China, it’s always the private sector who brings home a lot of bacon,” Employers Confederation of the Philippines president Sergio Ortiz-Luis Jr. said.
Up to 14 bilateral agreements are expected to be signed during Marcos’ Jan. 3 to 5 visit.
A deal on additional investments in the agricultural sector, particularly on the importation of durian to China, will be signed.
Manila and Beijing will also finalize an agreement on tourism cooperation. China is the second largest source of tourism for the Philippines in 2019.
The two countries are also expected to sign deals on nickel processing as “China imports 70 percent of its nickel ore requirements from the Philippines”.
Bilateral agreements on renewable energy, digital cooperation, exchange of best practices, and capacity building will also be signed during Marcos’ state visit.
“Any agreement which will generate investment and generate employment we are excited because I think at this point in time employment is the key,” Ortiz-Luis Jr. said.
Marcos and his delegation, including former president Gloria Arroyo, senior ministers and business leaders, will travel in a “bubble” to reduce the risk of infection as China battles soaring coronavirus disease 2019 (COVID-19) cases. (ABS-CBN News)
