PHL, China: PNoy state visit a milestone in bilateral relations

The state visit of President Benigno Aquino III to China was a milestone in bilateral relations between the two countries, Beijing and Manila said in a joint statement Thursday. Aquino and Chinese President Hu Jintao shared a positive assessment of the China-Philippines relations developed in the last 36 years since the establishment diplomatic relations were established on June 9, 1975. The two heads of state reiterated in their meeting their commitment to jointly pursue a long-term and stable relationship of strategic cooperation on the basis of mutual respect, equality and mutual benefit. They agreed that the Joint Action Plan for Strategic Cooperation signed by the two sides on October 29, 2009 will continue to guide cooperation in all fields. At the same time the Philippines reaffirmed its adherence to the one China policy. Presidents Aquino and Hu welcomed the agreements signed by the two sides Wednesday, saying these will further strengthen bilateral cooperation in trade, economic and technical cooperation, tourism, nautical connectivity, media, sports, culture and information. They pledged to continue strengthening the strategic and cooperative relationship for peace and development between China and the Philippines, acknowledging the two countries as close neighbors bound by time-honored friendship, vibrant trade and sustained people-to-people contacts over the centuries. The state leaders affirmed the importance of existing China-Philippines bilateral dialogue mechanisms in enhancing understanding, broadening cooperation and striving for a stronger relationship. More high-level exchanges They agreed to increase regular high-level exchanges, visits and meetings between leaders, Cabinet members, legislators, as wells as judicial, defense and military, and local government officials. To strengthen better understanding and mutual trust between Chinese and Filipinos, Aquino and Hu agreed to encourage more exchanges among youth, entrepreneurs, educators, media practitioners and artists. With the unstable global economy and emerging and developing economies having a more pronounced role in sustaining growth, it is highly practical and important for China and the Philippines to broaden and strengthen their economic and trade cooperation, the two Presidents also agreed. They affirmed that the China-Philippines Five-Year Development Program for Trade and Economic Cooperation (2012-2016) serves as the blueprint for future efforts in the agriculture and fishery, infrastructure and public works, mining, energy, information and communications technology, processing and manufacturing, tourism, engineering services and forestry sectors. Two-way trade between China and the Philippines will be expanded to reach a goal of $ 60 billion by 2016. China and the Philippines also agreed to improve trade structure, promote a vigorous exchange of investments and explore new areas of economic cooperation in renewable energy, shipping and ports. Support for PPP China affirmed its support for the public private partnership (PPP) program of the Philippine government and committed to encourage its qualified companies to participate in the competitive bidding processes under the program. The Philippines, on the other hand, appreciated China’s development assistance to various economic, agriculture and infrastructure projects in the Philippines. In the future, both countries will discuss the nautical highway that will infuse new energy to bilateral trade and economic activity which complements and supports the connectivity between China and the Association of South East Asian Nations. Also, the two leaders agreed that 2012-2013 will be the "China-Philippines Years of Friendly Exchanges" . They said they were satisfied that two-way tourist arrivals have breached the one-million mark and agreed to adopt the goal of doubling two-way tourist arrivals to two million by 2016. Aquino and Hu were optimistic that expanding the capacity entitlements in air services will contribute to the attainment of this goal. — VS, GMA News