The Department of Trade and Industry continues to promote an enhanced business cooperation in China through its trade promotion office in Shanghai, the Philippine Trade and Investment Center (PTIC-Shanghai) during a business mission to Jiangsu Province last April 24-25, 2024.

Supported by the Philippine Consulate General in Shanghai, PTIC Shanghai concluded the successful mission which aimed to explore areas of cooperation between Philippines and China through business-to-business exchanges.

During the courtesy call on the Foreign Affairs Office (FAO) of Jiangsu and Department of Commerce of Jiangsu (DOC Jiangsu), the FAO Jiangsu expressed its interest in fortifying the economic cooperation between Jiangsu and the Philippines.

Additionally, DOC Jiangsu recognized the strong business linkages between Jiangsu and the Philippines. Around 270 Jiangsu enterprises are doing business in the Philippines, with investments amounting to US$530M. In 2023, 42 more enterprises have established operations in the Philippines investing US$230M.

FAO Jiangsu is urging for greater collaboration in establishing direct flight routes between key cities in Jiangsu and the Philippines, with the aim of boosting tourism and enhancing cultural exchanges. Additionally, Jiangsu offers specialized vocational training programs in areas such as e-commerce, logistics, and supply chain management. Filipino students are encouraged to take advantage of these opportunities and enroll in these courses.

Notably, PTIC-Shanghai Commercial Counsellor Peñaranda underscored agri-food, new energy, infrastructure, and people-to-people exchanges, in his presentation during the meeting with the China Council for the Promotion of International Trade Jiangsu Sub-Council (CCPIT Jiangsu).

The Jiangsu Province is known for its thriving industrial and manufacturing sectors. The province’s industrial prowess, which focuses on new energy and high-tech industries, is a key area seen for collaboration between Philippines and China for driving economic growth and innovation. ♦

Date of Release: 19 June 2024

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