Home / Philippine News / PH, China sign deals to lower fertilizer prices

PH, China sign deals to lower fertilizer prices

President Ferdinand “Bongbong” Marcos Jr. Photo from Bongbong Marcos Fb pagePresident Ferdinand “Bongbong” Marcos Jr. Photo from Bongbong Marcos Fb page 

IN a bid to help farmers and ensure food security in the country, President Ferdinand “Bongbong” Marcos Jr. has secured business agreements with China that will lower the prices of fertilizer, Malacañang said on Saturday.

Communications Officer in Charge Cheloy Garafil said that the fertilizer deals were secured during a roundtable discussion with chief executive officers from China’s agribusiness sector in Beijing on Thursday, January 5.

During the meeting, the President expressed his appreciation to two Chinese fertilizer manufacturing companies that have signed a cooperation agreement with the Philippine International Trading Corp. to ensure a sustainable supply of the much-needed fertilizers at reasonable prices.

“We look forward to a steady supply of fertilizer inputs needed by our farmers through these agreements,” Marcos said.

The President said that agricultural inputs, especially fertilizers, have “become prohibitive for our farmers.”

“Providing a sustainable and affordable supply of inputs such as fertilizers and seedlings has become more difficult, given the global economic challenges. We have all seen these in the supply chain problems we encountered,” he said.

Marcos said that one strategy to address the issue is to establish cooperative agreements with suppliers so the government can buy in bulk and sell them to farmers at a lower price.

In addition, Garafil said the Philippines secured $2.09 billion in purchase intentions for Philippine fruits such as durian, coconut and bananas, among others.

In the meeting, Marcos emphasized that the Philippine economic fundamentals “remain strong and have been steadily improving.”

“I assure you that our government is committed to supporting your business activities in the country,” Marcos said.

“The Philippine economic management team, including the Department of Agriculture, will serve as your focal points of contact for any concerns regarding doing business and expanding your commercial footprint in the Philippines,” he added.

The President also invited Chinese business leaders to look at the Philippines equally “as a valuable contributor to their global businesses and as a partner in rebuilding the economies of both our countries.”

“Our partnership is critical in adapting and recovering from the pandemic. So, together, I think that we can build a more resilient and sustainable economy,” Marcos said.

Trade Secretary Alfredo Pascual, who joined the President in the roundtable discussion, invited business leaders to “firm up your interest to make an investment destination in the Philippines for plantation development and building of processing facilities.”

In his remarks, he cited the expansion of the country’s market reach and participation in the Association of Southeast Asian Nations (Asean) Trade in Goods Agreement or Atiga, the Asean-China Free Trade Area, and other agreements at the Asean.

*****
Credit belongs to : www.manilatimes.net

Check Also

Lakas-CMD elects new officers

Sara Duterte, Vice President of the Republic of The Philippines. CONTRIBUTED PHOTO THE political party …