ANVIL GRACES P.R.O.C.'S 66TH

Absolutely honored to represent the Anvil Business Club (Association of Young Filipino-Chinese Entrepreneurs ) in a modest cocktail reception on the occasion of the 66th Anniversary of the Founding of the People's Republic of China, led by none other than His Excellency Ambassador Zhao Jianhua (趙鑒華).
Attended by luminaries in government, business, and the academe, the simple occasion marked a renewal of long-established bilateral ties between the Philippines and China, which was recently bedeviled over territorial disputes at the South China Sea. In his message, Ambassador Zhao reiterated his nation's sincere commitment to extend the initiative of improving strained bilateral relations, citing that "China and the Philippines are not only neighbors; we are also close relatives with a history of friendly exchanges for more than a millennium."
The Chinese plenipotentiary urged the Philippine government to seriously consider further promoting bilateral friendship and cooperation, especially at this time when China has embarked on open global trade initiatives, such as the “One Belt, One Road,” the 21st Century Maritime Silk Road. This proposed road network will not only enhance “five connections” – trade, infrastructure, investment, capital and people – it will also create a community with “shared interests, destiny and responsibilities.” To this end, Ambassador Zhao has recommended three bilateral initiatives which the Philippines and China can still find great opportunities to work on:
1. Increase bilateral trade. The Philippines and China’s total bilateral trade for the first seven months of 2014 increased by 19 percent to $10.3 billion, from $8.6 billion in the same period in 2013. This made China the Philippines’ second largest trading partner after Japan. China was also the Philippines’ biggest source of imports as of end-July, with $5.5 billion worth of products — about 20 percent higher year-on-year. The Ambassador sees more room for growth in trade, as China is predicted to be the country's biggest source of imports in the coming years;
2. Escalate bilateral investment. Foreign direct investments (FDI) between China and Philippines remained “small,” as bilateral investments remain at a mere 1.2% of China's total global investments. In fact, Chinese investments in the Philippines declined by over a third to P1.24 billion in 2014, while Philippine investments in China totaled a mere $132.2 million in 2012. Ambassador Zhao cited the need for increased investments in the next few years, especially in infrastructure development. He also sees more Chinese firms investing in the Philippines’ manufacturing, administrative and support services, as well as information and communications sectors.
3. Boost bilateral tourism. In 2014, China became the fourth country to send the most number of visitors to the Philippines. In 2013, arrivals from mainland China grew by 69.9 percent compared to the 2012 tally. However, in terms of tourism spending, the Chinese only invested a mere $402,000 last year. With improved bilateral relations, the Ambassador sees this to rise sharply in the next few years.
For his part, Department of Foreign Affairs Undersecretary for Civilian Security and Consular Concerns Rafael Seguis — who represented Secretary Albert de Rosario — reaffirmed the Philippine Government's commitment to "handle the disputes in the South China Sea in a proper and peaceful manner, so as to carry on and further promote bilateral friendship and cooperation between the two countries." He also urged both Filipino and Chinese investors to further intensify investment initiatives in a “mutual desire for stronger economic ties” between the Philippines and China in achieving a “shared commitment towards regional peace and stability,” even as the two countries wrestle for control over territory west of the Philippines
The reception program was highlighted with a toast to long-standing friendship and mutual cooperation between the two countries.
Special thanks goes to Anvil Business Club's dynamic and debonair Director for Internationalism, Leoncio Lei Yee Jr. for taking the time to accompany yours truly in such a short notice.