Beijing—The Philippines and China on Wednesday agreed on a five-year development program for trade and economic cooperation that is expected to generate $60 billion in bilateral trade by 2016.
The deal was one of the agreements signed by Foreign Secretary Albert del Rosario and his counterpart following President Benigno Aquino III and Chinese President Hu Jintao’s bilateral meeting at the Great Hall of the People Wednesday afternoon.
Mr. Aquino and Hu witnessed the signing of the agreements that also include the following:
A memorandum of understanding (MOU) between the Department of Foreign Affairs (DFA) and the Chinese Ministry of Foreign Affairs (CMFA) on strengthening cooperation
A cooperation agreement between People’s Television Network Inc. (PTN) and China Central Television (CCTV)
An MOU on the assignment of an investment officer who will promote the Philippines to Chinese investors
An MOU between the Presidential Communications and Operations Office and the State Council Information Office
An MOU on sports cooperation between the two countries’ sports agencies
A program implementing the MOU on tourism cooperation
There were also exchanges of letters between the two governments on the technical grant of $300,000 for projects that will be endorsed by the National Economic and Development Authority, on the extension of the Philippines-China Cultural Agreement.
The Philippines and China have identified bilateral cooperation in the following fields: aquaculture and fishery, infrastructure and public works, mining, energy, information and communications technology, processing and manufacturing, tourism, engineering services and forestry.
Del Rosario also signed the MOU on the strengthening of cooperation between the DFA and the Chinese MFA.
Enhanced cooperation
According to documents provided by the government delegation, the MOU identifies the various areas that, if pursued, would enhance the cooperation and exchanges between the two countries.
The MOU identifies the following areas of cooperation as frequent contacts between the foreign ministers, regular consultations at various levels, exchanges of publications and cooperation on organizing and conducting training programs, and cooperation in consular affairs.
The cooperation agreement between PTN and CCTV provides for a partnership to report Asia from an Asean perspective, deliver and strengthen Asia’s voice in the world, show Asia’s improvements and development, and highlight the interaction and coordination between Asian countries and other parts of the world.
In particular, PTN and CCTV agree to the exchange of news programs, a mutual licensing of news stories copyright and the establishment of a joint news gathering scheme.
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By: Norman Bordadora
Source: Philippine Daily Inquirer, Sept. 1, 2011
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