Editorials
Ball is in Aquino's court
Updated: 2011-09-03 07:48
(China Daily)
In an apparent attempt to show goodwill, Philippine President Benigno Aquino is to visit his ancestors' hometown in East China's Fujian province today. This is the last leg of his first state visit to China, which started on Aug 30.
By all accounts, Aquino's visit has been fruitful, as leaders on both sides have hailed it as a milestone in the development of Sino-Philippine relations.
The fact that more than 200 businesspeople make up his 300-strong delegation underscores Aquino's aspiration to shore up stronger bilateral trade ties. In this regard, he should be pleased to see that the two countries signed nine cooperation agreements, including a five-year plan on bilateral economic and trade cooperation and agreements between tourism, sports and media agencies.
Sino-Philippine trade totaled $27.7 billion last year, making China the third-largest trade partner for the Southeast Asian country. During Aquino's visit, the two sides pledged to double their trade volume to $60 billion in five years.
The big business deals secured in Beijing will be a shot in the arm for the Philippine economy, which needs to post double-digit growth in the second half to achieve the ambitious 7 to 8 percent official target for this year.
Besides, the two countries also have a great opportunity to tap into the potential and expand cooperation in sectors such as infrastructure, agriculture, hydro-facilities, new energy, renewable energy and finance.
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