A large exhibition of Chinese machinery and electronic products was inaugurated at the World Trade Center in Metro Manila Thursday, where 90 Chinese producers with put on display their state-of-the-art products until June 12.

The China Machinery and Electronic Products Exhibition, the first and largest of its kind in the Philippine capital, was held as part of the activities to mark the 30th anniversary of the establishment of diplomatic ties between the two nations.

Philippine Senate President Franklin Drilon, House of Representatives Speaker Jose de Venecia and Undersecretary of Trade and Industry Tomas Santos, as well Chinese Vice Minister of Commerce An Min and Chinese Ambassador to the Philippines Wu Hongbo attended the opening ceremony.

Drilon and de Venecia warmly welcomed the Chinese businessmen and entrepreneurs participating in the exhibition, calling the exhibition a significant event in Filipino-Chinese economic relations.

Both congress leaders expected more development of relations between the two countries in all fields in the coming years, as closer cooperations between the Philippines and China are benefitting the peoples of both countries.

An Min said that Sino-Philippine economic and trade relations are developing rapidly, with bilateral trade hitting 13.33 billion US dollars in 2004. He said China has become the 4th largest trade partner of the Philippines and the Philippines China's 18th largest trade partner.

He expressed his confidence that Sino-Philippine annual trade volume will attain the goal of 30 billion US dollars by 2010 with efforts from both sides.

Wu Hongbo said that the successful visit by Chinese President Hu Jintao in April to the Philippines has brought bilateral relations of partnership to a new high. He expressed hope that the exhibition would play a role in further promoting economic and trade relations.

The exhibition was initiated by the Chinese Ministry of Commerce and organized by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products in collaboration with some Philippine chambers of commerce.

The products on display include electric appliances for households, automobiles and motorcycles, communication and automation equipment, construction equipment, and power transmission technology and equipment.

Source: Xinhua