PH, CHINA TO SIGN MULTIPLE AGREEMENTS

CHINESE President Xi Jinping’s visit to Manila will lead to the signing of several agreements between Manila and Beijing, one of President Rodrigo Duterte’s economic managers said on Sunday.

In a press briefing at the sidelines of the Asia-Pacific Economic Cooperation (APEC), Finance Secretary Carlos Dominguez 3rd said multiple deals would be signed during Xi’s visit on Tuesday and Wednesday.

“There are many agreements to be signed. They are presently being reviewed by the different departments and being coordinated by [Foreign Affairs Secretary Teodoro] Locsin [Jr] and these agreements will be signed or the notes will be exchanged in the presence of both presidentsL” Dominguez said.

These agreements include projects that China will finance like the Kaliwa Dam and the railway projects from Manila to Bicol, Clark to Subic and the Mindanao Railway System.

He added that his department will also sign an agreement with the Bank of China.

Dominguez said a joint oil exploration agreement may also be signed.

“That is being considered and Energy Secretary Alfonso Cusi is leading the effort in this areaL” he said.

Dominguez said the country is “preparing very hard for this historic meeting.”

“His visit is quite significant because it is a return visit to the state visit of the President two years ago where President Duterte very wisely turned the policy of foreign policy of the Philippines towards ASEAN and Asia particularly to China,” he said.

“These face-to-face meetings are so important because they promote understanding and goodwill between the leaders but also show a good example to their citizens that the Philippines and China should cooperate more closely and cooperation comes from understanding each otherL each other’s positions very wellL” he added.

Duterte has kept a cordial relationship with China since taking his oath as President.