Manila and Beijing will sign an agreement involving China’s purchase of $1.5 billion worth of Philippine goods, including agricultural products, on Wednesday, according to the Philippine Silk Road International Chamber of Commerce.
Dr. Francis Chua, chairman of the Philippine chapter of the Silk Road International Chamber of Commerce, said the $1.5-billion purchase agreement covers agriculture products, such as coconut and banana.
Last week Trade Secretary Ramon M. Lopez had announced that China is also keen on purchasing locally produced durian, avocado, pineapples, mango, dragon fruit, mangosteen, marang, rice, coffee and cacao.
China was the Philippines’s second major trading partner, fourth largest export market and first import supplier in 2015.
