Business / Economy

Philippines gives praise to China

(Xinhua) Updated: 2014-11-07 07:52

China has done more than expected in the Asia Pacific regional economic integration and should be congratulated for its role in strengthening the Asia-Pacific Economic Cooperation as a regional forum, according to a senior Philippine official in an interview with Xinhua on Wednesday.

Laura Q. Del Rosario, undersecretary of the Philippine Department of Foreign Affairs, said China has introduced many initiatives concerning the economy, innovation and regional integration and has done a very good job.

The interview was conducted shortly before the 22nd APEC Economic Leaders' Meeting slated for Nov 10-11 in Beijing.

A strong Philippine delegation led by President Benigno Aquino III will attend the meeting.

"It will be a bit more exciting for us because the Philippines will host the 2015 APEC summit in Manila," said Del Rosario.

In the interview, Del Rosario emphasized the importance of infrastructure development in the Philippines and infrastructure connectivity for the Asia Pacific region in order to further enhance economic growth and attract investments.

"We will solve the congestion problem in the Port of Manila and continue pushing forward public-private partnerships on infrastructure development projects," Del Rosario said, adding that the Philippines is working extra hard to make it easier for foreign investors to do business in the country.

On Oct 24, the Philippines signed the Memorandum of Understanding on Establishing Asian Infrastructure Investment Bank.

"If we have shown our confidence in China's leadership, that means we know China will provide a good way for everybody to be included in infrastructure connectivity," said Del Rosario.

She said that as an archipelago, the Philippines is not connected to any country in the region through railways or roads. "So the country can only engage in trade with its neighbors in the region through shipping," she said.

Apart from the regional economic cooperation, Del Rosario also stressed the importance of cultural and educational exchanges among the countries in the region.

Philippines gives praise to China

Philippines gives praise to China

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