Mr. Zafrullah G. Masahud (left), Commercial Counsellor at the Philippine Embassy, and Mr. Liang Wentao, Deputy Director-General of the Department of Asian Affairs of the Chinese Ministry of Commerce.

The economic team of the Philippine Embassy, comprised of Commercial Counsellor Zafrullah G. Masahud, Agriculture Counsellor Victoriano G. Leviste, and First Secretary Ivan Frank M. Olea, called on Mr. Liang Wentao, Deputy Director-General of the Department of Asian Affairs of the Chinese Ministry of Commerce (MOFCOM) on 14 May 2012.  

 

From L to R:  Ms. Du Xiaoju, Ms. Zhong Jie, Commercial Counsellor Zafrullah G. Masahud, Deputy Director-General Liang Wentao, and Agriculture Counsellor Victoriano B. Leviste.

Mr. Liang welcomed the Embassy’s economic team to MOFCOM and discussed ways to further enhance bilateral trade and economic relations between the Philippines and China.  Mr. Liang served as Commercial Counsellor at the Chinese Embassy in Manila from 2006 to 2008. 

 

Both sides agreed to work closely to double bilateral trade from US$30 billion to US$60 billion, which was a target set by H.E. President Benigno S. Aquino III and H.E. President Hu Jintao in the Five-Year Development Program for Trade and Economic Cooperation between the Republic of the Philippines and the People’s Republic of China, signed during the State Visit to China of H.E. President Benigno S. Aquino III to China in 2011.  

 

To support the Philippines’ pitch as an alternative investment location, Chinese companies are being encouraged by the Chinese government to explore economic opportunities within the ASEAN region.  The Chinese side said that given a conducive investment environment, Chinese firms would be interested to locate in key industrial locations in Luzon and other parts of the Philippines.