PH Ambassador Promotes Investment Opportunities at Major China Trade Fair

Philippine Ambassador to the People’s Republic of China Jaime A. FlorCruz (5th from right) during the 24th China International Fair for Investment & Trade. (Beijing PE photo)

XIAMEN 12 September 2024 – Philippine Ambassador to the People’s Republic of China Jaime A. FlorCruz encouraged Chinese and Filipino businessmen to seek business and investment opportunities for both countries during a recent series of investment promotion activities held in China from 07 to 09 September 2024.

“Together let’s seek business and investment opportunities to bring tangible benefits for the Philippines and China,” he said at the 24th China International Fair for Investment & Trade (CIFIT) held in China’s southern port city of Xiamen 

CIFIT is an annual trade fair co-hosted by China’s Ministry of Commerce and the governments of Xiamen and Fujian Province, the same region where President Xi Jinping worked for 17 and a half years as a local leader. 

CIFIT is known as one of China's most influential international investment event aimed at pushing China’s reform and opening up through two-way trade and investment. 

Several high-ranking government officials, joined by visitors from 119 countries and regions and business leaders from around the world, attended CIFIT’s 24th year meeting with the theme “Investment Linking the World.” 

In Xiamen, Ambassador FlorCruz met with representatives of the Filipino community. He also visited Innovation Training Base of the Global Promotion Center of the China International Development Cooperation Agency, Heart Sampling Visiting Scholar Program of the Xiamen Cardiovascular Hospital of Xiamen University, Xiamen Innovax Biotech Co., Ltd., and Double Medical Technology Co., Ltd. 

Ambassador FlorCruz highlighted the importance of linking up with these institutions to tap into their modern technology and innovative processes to bring about high quality products and services. 

“We should explore possible business partnerships with these top-level enterprises and perhaps make their investments and production lines available in the Philippine market,” he added. 

He also stressed the need to make full use of business-to-business match-making sessions which can lead to impactful results in support of development of the Philippine economy. 

The Philippine delegation was led by Undersecretary Ceferino Rodolfo of the Department of Trade and Industry. He was also joined by m Director General Tereso Panga of the Philippine Economic Zone Authority (PEZA), the Philippine Consulate General in Xiamen, Philippine Trade and Investment Center in Beijing and in Guangzhou, and several officials and Filipino businessmen based in Xiamen and in the Philippines, among others. 

Undersecretary Ceferino Rodolfo said the Philippines is the fastest growing economy in Asia and aims to be the hub for smart and sustainable manufacturing and services in Southeast Asia. Director General Tereso Panga of the Philippine Economic Zone Authority (PEZA) mentioned that in 2023, China stands as the country’s biggest trading partner, with 41 billion USD (combined import and export). END

For more information, visit https://www.beijingpe.dfa.gov.ph.