Premier Zhu on Sino-Philippine Ties, Bilateral Trade

Premier Zhu Rongji meets Philippine President

Premier Zhu Rongji Wednesday expressed his confidence in the broad prospect of Sino-Philippine relations and his hope that concerted efforts made by the two countries can make new achievements in bilateral cooperation in all fields.

As two friendly neighbors, Zhu said, China and the Philippines have made steady growth in bilateral ties and smooth cooperation in all fields.

During Estrada's visit, the two countries signed a joint statement on bilateral cooperation in the 21st century. Zhu described the document "as significant for the establishment of Sino-Philippine relations in the new century with the characteristics of long-term, stability, good neighborhood, mutual trust and cooperation."

Zhu said that China and the Philippines, both developing countries, share many common interests. He particularly mentioned the marked growth in bilateral trade during the past year.

According to Zhu, both countries achieved trade balance in the earlier months this year. "There is still room for greater potential", he added.

The Chinese premier also commended bilateral cooperation in agriculture, which has achieved tangible results.

"Beneficial cooperation in economic and trade fields will lay a solid foundation for the development of bilateral ties," he noted.

On the issue of South China Sea, Zhu said he hoped the two countries will proceed from maintaining the development of bilateral ties and the peace and stability in the region, and keep restraint so as to properly handle relevant problems through friendly consultations.

Cooperation among East Asia Nations

Premier Zhu Rongji said that China pays enormous importance to cooperating with nations in East Asia.

Zhu said that the Joint Statement on East Asia Cooperation issued during the third session of the informal meeting between leaders from 10-members of the Association of Southeast Asian Nations, China, Japan and Republic of Korean last November defined the development direction and major areas of cooperation in the region for the new century.

Those present at the meeting also agreed to strengthen cooperation in economy, trade, finance, science and technology, Zhu said.

Zhu commented that the meeting "enhanced mutual understanding and sent a positive message to the international community about the solidarity and cooperation among East Asian countries. "

The meeting was held in Manila, the Philippines, last November.

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