Marcos secures business agreements with China for lower fertilizer prices
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has secured business deals with Chinese companies that will lower prices of fertilizer, the Palace said.
In a statement Saturday, the Presidential Communications Office said Marcos had a roundtable discussion with chief executive officers from the agribusiness sector in Beijing in January 5.
During this meeting, Marcos “expressed appreciation to two Chinese fertilizer manufacturing companies that have signed a cooperation agreement with Philippine International Trading Corporation to ensure sustainable supply of the much-needed fertilizers at reasonable prices,” the Palace said.
The Palace added that Marcos said the cost of agricultural inputs, including fertilizers, has “become prohibitive and unaffordable for our local farmers.”
The president said: “We look forward to a steady supply of fertilizer inputs needed by our farmers through these agreements.”
Meanwhile, Marcos has assured the Chinese business leaders that the government will continue to support their endeavors in the country.
“The Philippine economic management team, including the Department of Agriculture (DA), will serve as your focal points of contact for any concerns regarding doing business and expanding your commercial footprint in the Philippines,” the president continued.
Trade Secretary Alfredo Pascual, who was also part of the roundtable discussion, meanwhile invited the business leaders to “firm up” their interest to make an investment destination in the country “for plantation development and building of processing facilities.”
The Philippines and China also released a joint statement saying that the two countries signed 14 agreements during the president’s visit to Beijing. Analysts however said that there is nothing new with the agreements with China as these are either “revivals or continuations of unfulfilled accords from previous administrations.” — Kristine Joy Patag
- Latest
- Trending
