CIIE provides opportunity to balance China-Philippines trade: official
The first China International Import Expo (CIIE) is the perfect event and bridge in helping nations export more to China, and it will also help address the Philippines’ trade deficit with China, said Mario C. Tani,
Commercial Vice
Consul of the Philippine Consulate General in Shanghai.
“China is now the No.1 trading partner of the Philippines. Our exports to China have been increasing at a fast rate. We see exports [so far] this year have increased 18 percent compared with the same period last year, but it’s still not enough to close the trade imbalance we have with China,” Tani told the Global Times on Monday.
Bilateral trade rose 8.2 percent year-on-year in 2017 to $23.74 billion, according to the Ministry of Commerce of China (MOFCOM). The Philippines’ exports to China increased 8.4 percent to $6.91 billion, MOFCOM data showed. The trade deficit was about $9.92 billion.
“This year the CIIE is the biggest tool we have in helping us close the deficit,” said Tani.
The CIIE benefits enterprises from the Philippines, which is sending 36 exhibitors from food, services and consumer goods industries. Of the total, 28 will promote food including snacks, alcoholic beverages, coconuts, mangoes, nuts, chocolate and coffee at the exhibition center.
The 165-square-meter national pavilion is a mix of modern and traditional design that showcases the best of the Philippines in terms of goods, services and the friendship between the Philippines and China, said Tani.
The CIIE is “the best avenue” to help small and medium-sized enterprises learn about the Chinese market, said Tani, and the event can help them find possible partners in China.