CEBU, Philippines - Chamber of commerce organizations around the Philippines are told to prepare for the influx of Chinese trade delegations to their respective cities and provinces.
Jesus Varela, director general of International Chamber of Commerce (Phils) briefed members of the Cebu Chamber of Commerce and Industry and Mandaue Chamber of Commerce and Industry about this in his recent visit to Cebu.
According to Varela, following the visit of President Rodrigo Duterte to China last month, the Philippines hosts at least one group of Chinese delegation every week who come to explore business opportunities and partnership with Filipino companies.
Cebu is one of the most popular investment destinations by Chinese investors that is why, he said, businesses here should prepare for the influx of trade missions from the different business and industry groups in China.
Varela assured the local chambers of commerce that ICCP will work closely with them in capacitating the local businesses in hosting the visiting Chinese investors.
Meanwhile, Consul General Shi Yong of the People's Republic of China met with officials of CCCI in a bid to strengthen trade relations between China and Cebu business community,
"We agreed to continually communicate and be ready to engage in mutually beneficial economic and trade opportunities," CCCI president Melanie Ng said.
One of the important discussions during the meeting with the Chinese Consul was the micro, small and medium enterprises (MSMEs) development and business linkage and exchange programs like trade missions, business and investments conference both inbound and outbound.
More opportunities for collaboration will be expected in the next few months, as the chamber established its formal connection with the Chinese.
Ng, who represented the Cebu business sector during the recently concluded Philippine Business Delegation in Beijing, China, said that Chinese businesses showed high interest in boosting economic ties with the Filipino traders, through the chamber of commerce organizations in the Philippines.
According to Ng, the chamber also expects delegation from China to participate in the upcoming Cebu Business Month 2017 in June.
Data from the Philippine Statistics Authority revealed that the Philippines incurred a trade gap of $5.9 billion with China from January to August this year, while it enjoyed a $1.2 billion trade surplus with the United States in the same period. (FREEMAN)