Expanded ties between Phl, China seen amid sea row

NANNING – Improving trade relations between the Philippines and China remains the objective of the Department of Trade and Industry (DTI) even as the gap between the two countries continues to widen with Beijing’s recent issuance of a travel warning.

During the China-ASEAN expo here this week, DTI Undersecretary Nora Terrado justified the need to expand trade ties between the Philippines and China, saying it will result in creation of jobs in the Philippines.

“Our investors will also be able to establish their businesses here in China,” Terrado told reporters in Filipino following her presentation before foreign businessmen on Wednesday.

“The strategy of good governance as good economics is proving to be effective… The next thing to do is look for opportunities where we can expand jobs for our people so it can be more inclusive growth,” she added.

Terrado told foreign investors about the country’s economic growth under the present administration, noting the investment upgrades given to the Philippines by private rating firms Moody’s, Fitch and Standard and Poor’s.

“The Philippines is recognized as the most improved economy in global competitiveness,” Terrado said.

She cited the Philippines’ better rankings in the 2014 Global Competitive Index.

“We trust that with all the significant and positive developments in our country, and the all-out support of our government, including the confidence of the international community, the Philippines is ready to join China and the rest of ASEAN in becoming a formidable economic bloc in the world,” she said.