PRESIDENT Ferdinand ”Bongbong” Marcos Jr. said Tuesday, October 28, that the signing of the upgraded ASEAN – China free trade agreement would boost employment for Filipinos.
”This upgraded agreement supports our MSMEs (micro, small and medium enterprises), strengthens supply chains, and creates new opportunities in the digital and green economy,” Marcos, who is in Kuala Lumpur, Malaysia for the 47th ASEAN Summit and Related Summits, said.
”It paves the way for more jobs and growth for our people. Here’s to a stronger ASEAN-China partnership!” he added.
The 11-member ASEAN and China have signed an upgrade to their free trade agreement, which is expected to include sections on digital, green economy and other new industries.
The regional bloc is China’s largest trading partner, with bilateral trade totaling $771 billion last year, according to ASEAN statistics.
China is seeking to intensify its engagement with ASEAN, a region with a collective gross domestic product of $3.8 trillion, with the aim to counter hefty import tariffs imposed by United States President Donald Trump’s administration on various countries around the world. (GMA Integrated News)
