MECO Chairman of the Board, Angelito Banayo, told the Philippines News Agency (PNA) during the 105th National Day Reception of Taiwan at the Sofitel Philippine Plaza Manila that both MECO and TECO are sponsoring studies that will be done by the University of the Philippines, Philippine Institute for Development Studies, and another university in Taiwan.
“What we are doing right now, together with Dr. Gary Song-Huann Lin, we are sponsoring for studies that will lead to trade agreement. We aim to know in what industries the Philippines and Taiwan will complement,” Banayo said.
Lin is Taiwan’s representative to Manila.
Banayo noted that there is a huge prospect for the economic relation between the Philippines and Taiwan.
Taiwanese President Tsai Ing-wen is pushing for its New Southbound Policy which targets more investments and enhanced economic ties with 18 countries, including the Philippines and other ASEAN member countries, South Asian countries, Australia, and New Zealand.
“And we are the first and nearest neighbor,” the MECO chair said.
“What we’re working on right now is to make the Philippines as Taiwan’s gateway to ASEAN,” he added.
In the same event, Trade Secretary Ramon Lopez said Manila and Taipei will be holding a joint committee meeting within the year to discuss further expansion of trade and investments between the two countries.
Latest data from the Philippine Statistics Authority show that bilateral trade between the Philippines and Taiwan from January to August this year amounted to USD4.74 billion.
Philippine exports to Taiwan over the period were valued at USD1.28 billion while imports from Taiwan reached USD3.45 billion.
“I am sure now is the best timing to nourish our friendship and further strengthen our robust relationship. With the backing of President Tsai’s ‘New Southbound Policy’, I am optimistic that our substantive bilateral relations will grow from strength to strength in the years to come,” Lin said.//
“What we are doing right now, together with Dr. Gary Song-Huann Lin, we are sponsoring for studies that will lead to trade agreement. We aim to know in what industries the Philippines and Taiwan will complement,” Banayo said.
Lin is Taiwan’s representative to Manila.
Banayo noted that there is a huge prospect for the economic relation between the Philippines and Taiwan.
Taiwanese President Tsai Ing-wen is pushing for its New Southbound Policy which targets more investments and enhanced economic ties with 18 countries, including the Philippines and other ASEAN member countries, South Asian countries, Australia, and New Zealand.
“And we are the first and nearest neighbor,” the MECO chair said.
“What we’re working on right now is to make the Philippines as Taiwan’s gateway to ASEAN,” he added.
In the same event, Trade Secretary Ramon Lopez said Manila and Taipei will be holding a joint committee meeting within the year to discuss further expansion of trade and investments between the two countries.
Latest data from the Philippine Statistics Authority show that bilateral trade between the Philippines and Taiwan from January to August this year amounted to USD4.74 billion.
Philippine exports to Taiwan over the period were valued at USD1.28 billion while imports from Taiwan reached USD3.45 billion.
“I am sure now is the best timing to nourish our friendship and further strengthen our robust relationship. With the backing of President Tsai’s ‘New Southbound Policy’, I am optimistic that our substantive bilateral relations will grow from strength to strength in the years to come,” Lin said.//
