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China to lend $33M for fish-port project
By Roderick T. dela Cruz , Reporter
THE Chinese government has agreed to extend a $33-million loan for the development of a modern fish port with processing facilities in Palawan, Agriculture Secretary Arthur C. Yap said Monday.
At a news briefing, Yap, who accompanied President Arroyo in her China visit, said China’s state-owned Camce Co. expressed its intent to bankroll the loan facility soon.
The President, he said, instructed Director Malcolm Sarmiento of the Bureau of Fisheries and Aquatic Resources and Gov. Joel Reyes of Palawan to follow the proposed project through.
At the same time, Yap announced that he and Chinese Agriculture Minister Du Qinglin signed a memorandum of understanding that seeks to establish the Philippines-China Joint Fisheries Commission.
Yap said the agreement outlines a framework for talks concerning the joint use, conservation management and transit convenience provisions for Chinese fishing vessels bound for the Pacific.
“Both sides discussed mutual interest in the conservation management of fisheries resources in the China Sea,” he said.
Yap said the commission will give the Chinese and Philippine governments an opportunity to thresh out sensitive issues including Chinese fishers being caught poaching in Philippine waters.
“We will pursue these talks with the view that substantial agreement will be in place in time for the visit by President Hu Jintao in Manila for the 30th anniversary of Philippine-China relations in 2005,” he said.
China is the fifth and the fastest-growing trading partner of the Philippines. Data from the National Statistics Office show that bilateral trade between the two countries grew by 52 percent to $3.959 billion in 2003 from $2.608 million in 2002.
China to lend $33M for fish-port project
By Roderick T. dela Cruz , Reporter
THE Chinese government has agreed to extend a $33-million loan for the development of a modern fish port with processing facilities in Palawan, Agriculture Secretary Arthur C. Yap said Monday.
At a news briefing, Yap, who accompanied President Arroyo in her China visit, said China’s state-owned Camce Co. expressed its intent to bankroll the loan facility soon.
The President, he said, instructed Director Malcolm Sarmiento of the Bureau of Fisheries and Aquatic Resources and Gov. Joel Reyes of Palawan to follow the proposed project through.
At the same time, Yap announced that he and Chinese Agriculture Minister Du Qinglin signed a memorandum of understanding that seeks to establish the Philippines-China Joint Fisheries Commission.
Yap said the agreement outlines a framework for talks concerning the joint use, conservation management and transit convenience provisions for Chinese fishing vessels bound for the Pacific.
“Both sides discussed mutual interest in the conservation management of fisheries resources in the China Sea,” he said.
Yap said the commission will give the Chinese and Philippine governments an opportunity to thresh out sensitive issues including Chinese fishers being caught poaching in Philippine waters.
“We will pursue these talks with the view that substantial agreement will be in place in time for the visit by President Hu Jintao in Manila for the 30th anniversary of Philippine-China relations in 2005,” he said.
China is the fifth and the fastest-growing trading partner of the Philippines. Data from the National Statistics Office show that bilateral trade between the two countries grew by 52 percent to $3.959 billion in 2003 from $2.608 million in 2002.