29 Nov China to Spend More Money in the Philippines, Buy $100M-Worth of Bananas and Pineapples
During a 5-day visit in the Philippines, the members of a delegation from the China Chamber of Commerce signed an agreement with local officials regarding China to buy $100-million worth of bananas and pineapples from the country annually. This happened following the lifting of the suspension of some 20 exporters of bananas and 6 exporters of mangoes from the country.
According to economic and commercial counselor of the embassy of the People’s Republic of China in the Philippines, Jin Yuan, there will be more Chinese companies and more Chinese tourists to come who will be spending more money in the Philippines.
Being the 2nd largest producer of bananas in the world, providing 90 percent of bananas in Asia, the Philippines exporters 448,000 metric tons of bananas to China alone valued at $157.5 million.
Source: Malaya Business Light
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