China buying more bananas from Philippines
China has signed new deals to buy more bananas from the Philippines through Fujian, one of its key c…China has signed new deals to buy more bananas from the Philippines through Fujian, one of its key cities. Top level executives of Fujian firms and Filipino businessmen signed 15 cooperation and joint venture agreements, including Philippine banana exports, at the recent business networking conference organized by the Fujian government and led by Governor Tang Dengjie and Department of Trade and Industry (DTI) Secretary Ramon M. Lopez.
Two agreements were signed on the purchase of Philippine bananas amounting to $4.51 million from Del Monte Fresh Produce and $ 6.27 million from Verde Horizon Agri-Ventures Corp.
Other agreements signed covered industry, agriculture, tourism, and real estate collaborations. According to business.mb.com.ph, the Philippines is keen on strengthening economic relations with one of China’s key provinces, Fujian.
Philippines and China relations improved under the administration of President Rodrigo Duterte. In 2017, China ranked as the PH’s top trading partner, fourth largest export market, and top import supplier. PH exports to China grew by 25.81 percent from $6.37 billion in 2016 to $8.02 billion in 2017.