(Eagle News) — Three major agreements were signed by Philippines and China after the expanded bilateral meetings between President Rodrigo Duterte and Chinese President Xi Jin Ping that renewed the two countries friendship and deepened bilateral ties.
The agreements were on economic and technical cooperation, human resource development, and energy cooperation. The signing was done at the Great Hall of the People on Monday, May 15.
The first to be signed was the Agreement on Economic and Technical Cooperation between the Government of the Republic of the Philippines and the Government of the People’s Republic of China.
It was signed by the Department of Finance (DOF) and the Ministry of Commerce (MOFCOM) of the People’s Republic of China.
The agreement will serve as the basis for a RMB 500 million grant to be provided by China to the Philippines for the conduct of feasibility studies for major projects, the construction of the drug abuse treatment and rehabilitation center and of bridges crossing the Pasig River.
President Duterte and President Xi likewise witnessed the signing of the Memorandum of Understanding (MOU) on Cooperation in Human Resource Development between the National Economic and Development Authority (NEDA) and the Ministry of Commerce of the People’s Republic of China.
The MOU will serve as the framework for the Philippines and China to strengthen cooperation in human resource development and to promote personnel exchanges.
The MOU was signed between NEDA as well as Ministry of Commerce of the People’s Republic of China.
The third agreement signed was the Memorandum of Understanding between the Department of Energy (DOE) and the National Energy Administration of the People’s Republic of China on Energy Cooperation.
According to the DOE, the objective of the MOU on Energy Cooperation between the Philippines and China is aimed at strengthening cooperation between the two countries in the electric power, oil and natural gas sectors, and others, as mutually agreed upon. (with a PND report)
