The Philippines and Chinese governments have signed six deals during the official visit of President Rodrigo Duterte in China.
The six deals were signed during Duterte’s bilateral meeting with Chinese President Xi Jinping on August 29 in Beijing.
One of the agreements include asna loan deal involving the Philippine National Railways (PNR).
The PNR South Long Haul Project is a major infrastructure project seen to reduce travel time from Manila to Legazpi City to 6 hours, from 13 hours.
Here is the list of the 6 agreements signed during the Duterte-Xi meet:
Here are the titles of the 6 deals signed:
– Memorandum of Understanding on Higher Education Cooperation between the Commission on Higher Education (Philippines) and Ministry of Education (China)
– MOU on Science and Technology Cooperation between the Department of Science and Technology (Philippines) and the Ministry of Science and Technology (China)
– Cooperative Arrangement between the Bureau of Customs, Department of Finance (Philippines) and the General Administration of Customs (China), and the implementatoin of the Intergovernmental Agreement Regarding Cooperation and Mutual Assistance in Customs Matters
– Implementation Contract on Project of China-Aid Container Inspection Equipment between the Bureau of Customs (Philippines) and Ministry of Commerce (China)
– Exchange of Notes on Cooperation Procedure for the Availment and Utilization of Concessional Loan under a Renminbi-denominated Loan Facility between the Department of Finance (Philippines) and China International Development Cooperation Agency
– Preferential Buyer’s Credit Loan Agreement of Project Management Consultancy of the Philippine National Railways (PNR) South Long Haul Project between the Department of Finance and Export-Import Bank of China
Duterte and Xi also discussed the arbitral ruling which China continues to reject.
Malacañang hopes that this trip will help to “fast-track” existing big-ticket Chinese projects in the Philippines.
