The Philippines will profit from President Duterte’s participation within the Belt and Road Summit initiated by China, Ambassador to China Chito Sta. Romana stated in a press briefing in Beijing on Friday (May 13).
“I think the most immediate is a result of the expansion of the markets, the number of countries participating here. You can have a boost in the export market as well as investments but as I said, it is best to be prepared that this will take time,” he stated.
Sta. Romana stated from the viewpoint of the Philippines, the nation is open not solely to the Asian Infrastructure Investment Bank (AIIB) established by China, but additionally the Asian Development Bank (ADB) and the World Bank.
The nation’s envoy to China stated the Duterte administration’s pursuit of an impartial international coverage has resulted in additional alternatives.
However, Sta. Romana was fast to add that the Philippines isn’t abandoning the US for China.
“It will not be a pivot to China nor a pivot away to the US. We will maintain our traditional historic and cultural ties and treaty ties with the US but we will separate our foreign policy because we have our own national interest,” he stated.
“In the case of China, they also have their own interest. but where there are common interest like in economy, trade where there are non-contentious areas like sports, culture we are going to promote. that’s why the President is going to Russia some time this way…Japan, India,” the envoy defined.