PHL, China sign 14 deals during Premier Li’s ‘historic visit’

President Rodrigo Duterte and Chinese Premier Li Keqiang on Wednesday witnessed the signing of 14 agreements during a historic official visit.

Keqiang is the first Chinese Premier to pay a visit to the Philippines in 10 years.

Philippines and China agreed to exchange letters on the construction of dangerous drugs abuse treatment and rehabilitation centers and two bridges across Pasig River. Duterte and Li also led the ceremonial launching of these projects.

They also agreed to a Renminbi bond issuance that would amount to US $200 million.

But Finance Secretary Carlos Dominguez kept mum on the date of the issuance.

"We cannot say. We'll wait for the market. We don't announce in advance," he said.

In their opening statements during the expanded bilateral meeting, President Duterte expressed gratitude to China for its relentless support to the Philippines.

"We cannot offer you anything because we are the ones needing help. But maybe in the future, the Philippines would also show its debt of gratitude to China. And for all of the funding of the public works, bridges and all, there is nothing more we can ask from your friendship," he said.

Li, meanwhile, said that China will be ready to "provide and grant" assistance to the Philippines.

"Helping the Philippines is helping ourselves... China and the Philippines are close neighbors. Both China and the Philippines are countries with large population and we are developing opportunities and a big market for each other," he said.

"If we can work together, I believe, it will also bring benefits to the people of both countries and the regions as a whole," he added.

Here is a complete list of the agreements signed during Li's official visit:

1. Agreement on Economic and Technical Cooperation between the Government of the Republic of the Philippines and the People’s Republic of China

Signatories: Department of Finance Secretary Carlos Dominguez III and International Trade Representative and Vice Minister of Commerce Fu Ziying;

2. Memorandum of Understanding on Jointly Promoting on Second Basket of Key Infrastructure Projects Cooperation between the Department of Finance of the Republic of the Philippines and the Ministry of Commerce of the Government of the People’s Republic of China

Signatories: Department of Finance Secretary Carlos Dominguez III and International Trade Representative and Vice Minister of Commerce Fu Ziying;

3. Exchange of Letters on Project of Dangerous Drugs Abuse Treatment and Rehabilitation Centers

Signatories: Department of Health Secretary Francisco Duque and International Trade Representative and Vice Minister of Commerce Fu Ziying;

 4. Exchange of Letters on Project of Two Bridges Across Pasig River

Signatories: Department of Public Works and Highways Secretary Mark Villar and International Trade Representative and Vice Minister of Commerce Fu Ziying;

 5. Memorandum of Understanding for Cooperation on Industrial Parks Development between the Department of Trade and Industry of the Republic of the Philippines and the Ministry of Commerce of the People’s Republic of China

Signatories: Department of Trade and Industry Secretary Ramon Lopez and International Trade Representative and Vice Minister of Commerce Fu Ziying;

6. Memorandum of Understanding on Jointly Promoting the Philippine National Railways South Long Hall Project Cooperation between the Department of Transportation of the Republic of the Philippines and the Ministry of Commerce of the People’s Republic of China

Signatories: Department of Transportation Secretary Arthur Tugade and International Trade Representative and Vice Minister of Commerce Fu Ziying;

7. Implementation Framework for the Memorandum of Understanding and Development of Project List for Cooperation in Production Capacity and Investment between the National Economic and Development Authority of the Republic of the Philippines and the National Development and Reform Commission of the People’s Republic of China

Signatories: Socioeconomic Secretary Ernesto Pernia and National Development and Reform Commission Vice Chairman Zhang Yong;

8. Memorandum of Understanding between the Department of Environment and Natural Resources of the Republic of the Philippines and the National Development and Reform Commission of the People’s Republic of China Concerning the Provision of Goods for Addressing Climate Change

Signatories: Department of Environment and Natural Resources Secretary Roy Cimatu and National Development and Reform Commission Vice Chairman Zhang Yong;

9. Memorandum of Understanding on Defense Industry Cooperation between the Department of National Defense of the Republic of the Philippines and the State Administration of Science Technology Industry of the National Defense of the People’s Republic of China

Signatories: Defense Secretary Delfin Lorenzana and Deputy Minister of Foreign Affairs Zhang Yesui;

10. Memorandum of Understanding between the Intellectual Property Office of the Philippines and the State Intellectual Property of the People’s Republic of China on Cooperation in the Field of Intellectual Property

Signatories: Intellectual Property Office Director General Josephine Santiago and Deputy Minister of Foreign Affairs Zhang Yesui;

11. Memorandum of Understanding between the National Youth Commission and the All-China Youth Federation on Strengthening Youth Cooperation

Signatories: National Youth Commission Chairperson and CEO Cariza Seguerra and Deputy Minister of Foreign Affairs Zhang Yesui;

12. The Financing Cooperation Agreement on Chico River Pump Irrigation Project and New Centennial Water Source-Kaliwa Dam Project between the Government of the Republic of the Philippines represented by the Department of Finance and the Export-Import Bank of China

Signatories: Finance Secretary Carlos Dominguez III and Export-Import Bank of China President Liu Liange;

13. The Republic of the Philippines 2017 Renminbi Bond Issuance Underwriting Agreement

Signatories: Finance Secretary Carlos Dominguez III and Bank of China Limited Chairman Chen Siqing;

14. Memorandum of Understanding between the Bases Conversion and Development Authority and China Development Bank

Signatories: Bases Conversion and Development Authority Chairman Gregorio Garcia III and China Development Bank Chairman Hu Huaibang.

— MDM, GMA News