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CIIE Story ? Celebrating 10th Anniversary of BRI | Philippine companies benefit from Chinese market via CIIE Release date： 2023-10-10 Source：China International Import Expo Bureau
The Philippine companies have benefited from the China International Import Expo in Shanghai as the trade volumes, mounting from $124 million at the inaugural event in 2018 to $655.15 million last year, speak of the advancement of trade ties with China.
Glenn G. Penaranda, commercial counselor of the Philippine consulate general in Shanghai, said that China has emerged as the country's strategic economic partner and largest trading partner and an important source of investment for the Philippines.
Penaranda said he hopes to meet strategic partners and strengthen trade cooperation during the upcoming sixth CIIE, with a focus on developing industries and enhancing trade links with China.
Eng Seng Food Products, a producer and exporter of fresh and frozen fruits based in Davao, the Philippines, has been a regular participant in the CIIE. In the previous expos, the company was limited to showcasing frozen durian meat and dried durian due to import restrictions.
However, with the Regional Comprehensive Economic Partnership agreement in place, the CIIE has become a window to explore deeper economic and trade cooperation between the two countries. In January 2023, the Chinese General Administration of Customs allowed the import of fresh durian from the Philippines.
Thanks to the approval, the company is spearheading efforts to educate and train farmers in collaboration with local government departments and technical institutions. This includes focusing on cultivating new and improved durian varieties and implementing quality control throughout the entire supply chain.
Currently, Davao produces over 50,000 metric tons of durian annually, with more than 3,000 farming households. It is expected that each farming household's annual income will increase by about $2,800 due to the Chinese market.
Frozen durian from the Philippines showcased at the CIIE. [Photo/CIIE Bureau]
Century Pacific Food Inc., one of the largest branded food companies in the Philippines has been a participant in the CIIE since 2019. The company showcased its popular canned tuna products, including flavors like butter, water-soaked, spicy, five-spice, and black bean sauce-marinated tuna, drawing significant attention and revealing the immense potential of the Chinese market.
Century Pacific Agricultural Ventures Inc. a subsidiary of Century Pacific Food Inc, primarily produces various coconut products from the Philippines. Taking advantage of the sixth CIIE, CPAVI aims to further promote their healthy coconut milk product series.
The company stated that through their previous participation in the CIIE, they have recognized the Chinese consumers' pursuit and preference for healthy food. It views the expo not only as a platform to showcase products but also as a valuable opportunity to interact with consumers and understand market demands.
By Cao Desheng
Chen Xihan from Jiefang Daily contributed to the story.
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