RP, China sign 12 agreements

The Philippines and China signed 12 agreements at Malacañang last night, including a $500-million loan from China for the first phase of the Northrail project.

Most of the agreements, signed by ranking officials of both countries, centered on the expansion of their economic and trade partnership.

President Arroyo and visiting Chinese Premier Wen Jiabao witnessed the signing at the Reception Hall of the Palace shortly before 8 p.m. Wen, who flew to Manila from Cebu after attending the Association of Southeast Asian Nations (ASEAN) and East Asia summits, was given arrival honors at Malacañang.

Before the signing of the agreements, Mrs. Arroyo and Wen met for about 20 minutes at Malacañang’s Music Room and this was followed by an expanded meeting with officials from both sides at the Aguinaldo State Dining Room. A state dinner hosted by the President followed at the Rizal Hall.

Wen is scheduled to lay a wreath at the Rizal Monument today at around 8:30 a.m. and head for the Century Park Hotel for a meeting with agriculture officials.

Senate President Manuel Villar will later pay a courtesy call on the visiting Premier at the same hotel. Wen will then proceed to the Chinese Embassy to meet with its staff and with members of the Filipino-Chinese community.

Speaker Jose de Venecia Jr. will host a lunch for Wen at the Manila Hotel.

The Premier is scheduled to depart for China today at around 1:30 p.m.

Aside from the Northrail loan program, the other agreements signed were on Expanding and Deepening Bilateral Economic and Trade Cooperation; Economic and Technical Cooperation to include a grant of 15 million RMB; Provision of Concessional Loan to the Philippines for the Non-Intrusive Container Inspection System Project; Expanding and Deepening Agriculture and Fisheries Cooperation; Sanitary; Protection of Cultural Heritage; and the Rehabilitation and Upgrading of the Philippine Mainline South Railway Project Phase 1.

Also signed were memoranda of agreement between the Department of Agriculture and China’s General Administration of Quality Supervision, Inspection, and Quarantine in the field of Sanitary and Phytosanitary Measures; and between the Department of Trade and Industry and the General Administration of Quality Supervision, Inspection and Quarantine on Cooperation on Industrial Products Safety.

Also signed were Memoranda of Understanding between the Department of Finance and the Export and Import Bank of China for $500 million Preferential Buyer’s Credit, and between the China Export and Credit Insurance Corp. and the Philippine government.

The North Luzon Railways Corp. and the China National Machinery Industry Corporation signed a pact for the Northrail Project. - With Rainier Allan Ronda