The Philippines wants to deepen trade and investment ties with China despite geopolitical tensions, Finance Secretary Frederick Go said, citing Beijing’s role as the country’s biggest import source and a key provider of technology for infrastructure projects.
“As far as the economic [team] is concerned, we really want to deepen our economic, trade and investment partnership with China,” Go said in an interview with Bloomberg.
“China is our most important trading partner. They’re number one for imports, and they’re number four for exports for the country. So they are a very important partner,” he said.
Go said the relationship extends beyond merchandise trade, with Chinese technology, equipment, expertise, suppliers, and contractors involved in major Philippine infrastructure projects.
“I’d also like to stress that they are also a very important technical strategic partner of the Philippines,” he said, citing the use of Chinese technology and contractors in large infrastructure projects.
Renewable energy is one area where Chinese technology has a significant presence, Go said, pointing to a $4-billion solar project with four gigawatts of capacity and battery storage that will use Chinese technology and equipment.
“I think it’s very important for us to keep maintaining a strong economic relationship with China,” he said.
Go spoke as the Marcos administration stepped up its investment campaign in Hong Kong on Monday, where Philippine economic managers were promoting projects in infrastructure, renewable energy, semiconductors, mineral processing, manufacturing, and other priority industries on the sidelines of the Belt and Road Summit.
The government is seeking to attract capital into sectors that can generate higher-quality jobs, expand domestic production, and support long-term economic growth.
The push to sustain economic engagement with China comes alongside Manila’s broader effort to diversify investment sources and strengthen economic partnerships as geopolitical tensions in the region persist.
