China Buying More Ag Goods from the Philippines

China says it may import more fruits and other agricultural products from the Philippines in the years ahead as the two countries enjoy close ties. The Philippine Trade Minister, Ramon Lopez, says Chinese President Xi Jinping made that comment during a meeting with the Philippine president in Beijing last week. Philippine government officials were happy to hear that as the country has a goal of balancing the trade deficit with China.

 

Lopez said in a statement that, “President Xi reiterated China’s policy to help balance trade with the Philippines by buying more goods, especially agriculture and Agri-based products, and industrial goods.”

 

Xi also says, “China is willing to import more high-quality fruits and agricultural products from the Philippines and will send experts to the Philippines to teach agricultural and fishery technology.”

 

A wide trade gap exists between the two countries. China was the Philippines biggest supplier of imported goods with a 23 percent share of total imports as of last June. Meanwhile, China was only the third-largest importer of products from the Philippines.

 

 

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