Philippine President Benigno S Aquino III speaks at the Philippines-China Economic and Trade Forum held in Shanghai Sept 2, 2011. [Photo/Asianewsphoto]

MANILA - Philippine President Benigno S Aquino III's recent state visit to China is expected to further promote peace and bilateral trade between the two countries.

According to Philippine Trade and Industry Undersecretary Cristino Panlilio, Aquino's state visit to China is expected to generate 2 billion to $7 billion worth of Chinese investments in the Philippines.

Panlilio was confident of the "serious investments" the government could get from various Chinese companies in mining, infrastructure, energy, shipbuilding, and agri-business.

Panlilio's confidence comes from the outcome of the Philippines- China Economic and Trade Forum held during Aquino's visit.

The Philippine president, at the forum, invited Chinese community to invest in the Philippines, "an emerging economic force in Southeast Asia" as he termed.

In response, Chinese Vice Premier Wang Qishan said, in his address to the forum, that China and the Philippines should tap their cooperation potential, expand trade volume, optimize the composition of imports and exports and make efforts to bring bilateral trade to $60 billion by 2016.

China-Philippines trade amounted to $27.7 billion in 2010, making China the third largest trading partner of the Philippines.

Wang also said China will encourage strong businesses to invest in the Philippines and play a part in infrastructure construction.

Aquino said the partnership between the two countries in infrastructure development is now more crucial since the Philippines could serve as the region's northern gateway once the ASEAN economic community is formed in 2015.

As to the meeting between Aquino and Chinese President Hu Jintao, Teresita Cruz-Del Rosario, a Filipino visiting professor at the Lee Kuan Yew School of Public Policy in Singapore, said the two leaders "have a vested interest in stabilizing relations between the two countries whose peoples share common roots."

In her article published by the People's Daily online, the professor said that Aquino's visit highlights "China's successful use of soft power to build relationships based on inducements and gestures of goodwill rather than aggression and interference in domestic affairs."

Del Rosario said China's success is evident in turning Southeast Asia into a peaceful and prosperous backyard that allows it to concentrate on modernizing its economy.

According to a joint statement issued after the meeting between Aquino and Chinese President Hu Jintao, the two leaders reiterated their commitment to addressing the maritime disputes through peaceful dialogue, to maintain continued regional peace, security, stability and an environment conducive to economic progress.

Observers also said that the reports about alleged intrusion of Chinese vessels into some islands in the Nansha archipelago as well as reactions from Philippine authorities have been blown out of proportion.

The United States has said it will stand by the Philippines in case its territorial integrity is challenged, which, the observers said, is uncalled for since Beijing has always been consistent in saying that the dispute in the South China Sea can be solved peacefully by the concerned parties themselves without the interference of outside parties.