China and Philippines will cooperate in economic, trade and investment
Time：2016-08-10
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Chinese Minister of Commerce Gao Hucheng said after meeting his Philippine counterpart Ramon Lopez in the Lao capital Vientiane that both countries are capable of solving the South China Sea dispute through bilateral negotiation and the consultation mechanism between China and the Association of Southeast Asian Nations (ASEAN), reported Xinhua.
He added that their meeting also focused on measures to further recover and develop economic and trade relations between the two countries.
Speaking on the sidelines of the 48th ASEAN Economic Ministers Meeting that kicked off in Vientiane last Wednesday, Mr Gao said that Mr Lopez agreed that the two nations should restart the China-Philippines joint economic and trade committee, an important mechanism on bilateral trade and economic cooperation, which has been stalled for five years, reported Delhi`s Indian Express.
The Chinese minister also said that the new Philippine administration has repeatedly expressed its willingness to improve relations with Beijing through bilateral channels and direct dialogues, in order to create favourable conditions for bilateral cooperation in a number of areas.