Taipei, Aug. 27 (CNA) President Chen Shui-bian expressed the hope Wednesday that Taiwan and the Philippines will sign a free trade agreement and increase cooperation in the technological, agricultural and fishery fields.
Meeting with Roberto Romulo, an advisor in the national competitiveness to the Philippine President Gloria Macapagal-Arroyo, and the later's daughter, Evangelina Lourdes Arroyo, at the Presidential Office, Chen said that Taiwan and the Philippines are neighboring countries and have long maintained close relations.
Taiwan is the fourth-largest trading partner of the Philippines with two-way trade that amounted to US$5.6 billion last year, leaving a surplus of US$1.6 billion for Manila, Chen noted.
Taiwan is also the fifth-largest capital supplier of the Philippines with investments that accumulated to more than US$1 billion at the end of last year.
More than 100,000 Taiwanese visited the Philippines last year, making Taiwan the fifth-largest tourist source of the Southeast Asian nation, Chen continued, emphasizing that the number represents an annual growth rate of 21 percent.
More than 71,000 Philippine laborers are working in Taiwan, earning more than US$400 million a year for Manila's foreign exchange reserve, Chen went on.
Chen told his guests that he greatly appreciates Taiwan's relations with the Philippines and hopes to further strengthen these ties during his administration. There is still room for improving ties, particularly in the trade, investment, tourism and labor fields, he said.
Suggesting that the Philippines offer more incentives to lure Taiwan investors, Chen said that the signing of a free trade agreement between the two countries would be mutually beneficial.
Chen asked his guests to convey his regards and invitation to President Arroyo. He said that he hopes to meet Arroyo in Taipei at an opportune time.