Philippines to work with Chinese firms

A delegation from the Philippines is seeking cooperation opportunities in the service sector at the ongoing China Beijing International Fair for Trade in Services.

The Philippines hosted a partnership seminar with Chinese companies on Thursday, with diplomats from the Philippine embassy in China and representatives of the Philippine Software Industry Association delivering speeches.

Bilateral relations between China and the Philippines are currently positive and CIFTIS is an important platform for promoting increased and deeper cooperation in trade and investment in services, said Glenn G. Penaranda, commercial counselor of the Philippine embassy in China.

The Philippines is an ideal location for services because of a good availability of professionals, competitive costs, and a business-friendly environment with sound infrastructure, said Penaranda, adding that the strong service orientation of its workforce also makes the country competitive globally.

According to official statistics, the Philippines' information technology services industry has generated $23 billion in revenue and provided employment for 1.2 million locals.

"China is much ahead in terms of innovation and technology, while the Philippines has exhibited an impressive track record in the information technology and business process management industry," said Jonathan Defensor De Luzuriaga, president of the Philippine Software Industry Association and CEO of Spring Valley Corporation.

"China could leverage the Philippines' familiarity with Western markets while the Philippines would provide China an alternative venue for high-tech manufacturing and research and development centers," he added.

(China Daily 05/31/2018 page24)