RP exports high value seafood to China

The Philippines is looking at additional P5 billion in export revenues annually as local exporters start shipping high value seafood to a city in China in October.

“We can now export high value seafood to Chungqing City because the Philippine Airlines (PAL) is going to offer direct flights from the Philippines,” Philippine Special Investment Envoy to China Francis Chua said in an interview.

He explained that local seafood can be brought to the Chinese City using the PAL flight.

According to Chua, the demand for high value seafood such as lobster, tuna and lapu-lapu for one city alone is half a billion tons yearly. Chungqing City, located in the province of Sichuan in China, can only produce 250,000 tons.

“That means the Philippines can sell up to 250,000 tons of seafood. That amounts to P5 billion per year,” Chua explained.

Earlier, more than 300 businessmen from Chungqing, the largest motorcycle manufacturing haven in China, visited the country. Chua said the visiting Chinese investors were looking at engaging in mining, automotive and shipbuilding activities.

He said among the projects that the delegates are looking at is the setting up of a motorcycle manufacturing facilities in the country as an expansion of their facilities in Chungqing, the biggest manufacturing site of generic motorcycles in China.

The 300-man delegation from Chungqing visited the country to talk to President Arroyo to discuss investment opportunities in the country. Chua said Mrs. Arroyo was very receptive and even proposed locating the assembly plant project in Sta. Rosa, Laguna where there is already a steady base of support industries servicing the requirements of the existing automotive manufacturers.

Among others, Toyota Motor Philippines and Honda plants are in Sta. Rosa, Laguna.

The meeting with the President was followed by discussions with key local business groups and government officials.

Chua disclosed that the visit has paved the way for the creation of the Philippines-Chungqing Business Council to give potential investors access to information on setting up a business in the country as well as networking with other entrepreneurs and companies for possible joint venture activities.

Aside from automotive, Chua said the Chinese are also considering delving into mining specifically the exploration of nickel and chromite in Palawan. He explained that the investors are open to a joint venture agreement with the local government for this specific project.