READ: PH-China MOU on Belt and Road Initiative | Global News

READ: PH-China MOU on Belt and Road Initiative

/ 12:18 PM November 27, 2018

Malacañang has finally released the memorandum of understanding (MOU) between the Philippines and China to work together under Beijing’s Belt and Road Initiative (BRI).

The MOU was among the 29 deals signed during the state visit of Chinese President Xi Jinping to the Philippines last week.


READ: PH, China sign MOU on oil and gas development, 28 other deals

The Belt and Road Initiative seeks to build a trade and infrastructure network and was China’s mode of reviving the ancient Silk Road trade route.


Under the MOU, the two countries agreed to pursue projects under the initiative with “the strictest respect for national laws, rules, regulations, and policies.”

It also states that the participants, the Philippines and China, will be guided by principles of “mutual respect for territorial integrity and sovereignty” and “complete transparency in their common endeavors to expand mutually beneficial cooperation.”

The Philippines and China also agree to hold “regular dialogue” on “key macroeconomic policies and development strategies.”

“This memorandum of understanding does not create legally binding obligations for the participants. It is an expression of their common aspiration to cooperate on the Belt and Road Initiative for their mutual benefit,” the MOU read.

President Duterte is expected to attend the second edition of the Belt and Road Forum for International Cooperation in April 2019 in Beijing upon the invitation of Xi.  /muf

READ: Duterte accepts Xi’s invitation to visit China anew in April 2019

Subscribe to our global nation newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Belt and Road Initiative, China, Features, joint exploration, local news, Malacañang, MOU, nation, national news, Philippine news update, Rodrigo Duterte
For feedback, complaints, or inquiries, contact us.

Subscribe to our global news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.

© Copyright 1997-2021 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.