On June 5, the Philippines-China Economic Partnership Forum Opened in Manila. 

President Arroyo attended the opening ceremony and delivered the keynote speech. 

In her speech, the President pointed out that trade and economic co-operation between 

the Philippines and China has made great achievements in recent years. The forum 

aimed at drawing up a blueprint for bilateral economic and trade co-operation and is of 

great significance. The President said she was also full of confidence for the future 

development of bilateral economic and trade relations.

      Philippine House Speaker Jose De Venecia Jr., Hon. Peter Favila , Secretary of Trade 

and Industry of the Philippines and Hon. Bo Xilai , Minister of Commerce of China also 

addressed the forum. Minister Bo Xilai said in his speech that the Sino-Philippine economic 

and trade cooperation has developed quickly. Last year, the trade volume reached 17.6 billion 

US$,  more than 270 times of the figure when diplomatic relationship was established between

 the two countries 30 years ago. The cooperation in infrastructure, agriculture, mining and 

tourism is expanding with huge potentials. After the ceremony, Minister Bo Xilai and Secretary 

Peter Favila signed the memorandum of understanding for establishing economic partnership 

between China and the Philippines, laying out the key areas of bilateral co-operation in 

infrastructure, mining, griculture and tourism. 

The forum is the biggest ever of economic and trade forum between China and the 

Philippines up to date, which is sponsored by the Ministry of Commerce of China and the 

Department of Trade and Industry of the Philippines. Nearly 300 members from Chinese 

ministries of commerce, foreign affairs, agriculture, central monetary agencies, large 

enterprises, and officials and entrepreneurs from 19 provinces and municipalities of China 

attended the forum. About 300 Philippine business leaders also joined the forum.