PRESIDENT Aquino will focus on improving trade and economic cooperation with the world’s fastest-growing economy in his state visit to China next week as the Philippines is targeting $60 billion from deals, the Department of Foreign Affairs (DFA) said on Wednesday.

The DFA said Mr. Aquino will discuss the South China Sea issue only in “general terms” with Chinese President Hu Jintao.

Assistant Foreign Secretary Cristina Ortega said in a Palace briefing that the Philippines is targeting $60 billion from the Philippines-China Five-Year Development Program for Trade and Economic Cooperation, one of at least six agreements expected to be signed during the four-day trip to Beijing, Shanghai and Xiamen.

“The focus of the state visit, I would say, would be trade and economic cooperation,” Ortega said. “By 2016…hopefully, the target would be something like $60 billion. So that is the target. We always have targets and we won’t have this target if it’s not going to be possible. We will work hard but I think it could be done.”

She said other possible Chinese investments arising from the visit are expected to amount to $1.5 billion, and that among the other agreements expected to be signed are on technical cooperation, media, sports, culture and information.

Chinese Ambassador Liu Jianchao, in a media forum for Palace reporters, said the topics to be discussed by President Hu with Mr. Aquino “will be very extensive, wide-ranging from political ties between our two countries, the assessment of general relationship, the guidelines for our future relations.”

“The two presidents will also focus on the strengthening of the economic and trade ties, which is such a necessity for a stronger relationship,” Liu said.

The two-way trade between the Philippines and China is expected to reach $30 billion this year, and Liu said the Philippines has “a good chance” of securing part of the $15-billion loan commitment made by China to members of the Association of Southeast Asian Nations (Asean), $6.7 billion of which are concessional loans.

“If there are right projects, projects the two sides would agree upon, the Philippines may well have a good chance of securing part of the concessional loans or the commercial loans,” he said.

He said Chinese businessmen are also eagerly awaiting a “detailed announcement and detailed explanation, description” of the Public-Private Partnership Program of the government.

“China is getting stronger economically. We are adopting a policy of moving out, of investing overseas. So this conforms with our strategy and policy of economic development so there’s a very good chance investment of China to the Philippines will expand,” Liu said.

Responding to questions, Liu said he was not sure if the North Luzon Railway project would be brought up during the visit “but the channel is open” for both governments “on how we should move on with this project.”

“China takes a very positive and open stand on this project which it believes is what the Philippine side needs, and something which will really benefit the Philippine people. If the Philippines will have some new ideas about the project, the Chinese contractor and the Chinese government will keep the door open for further discussions,” he said.

While the South China Sea issue is likely to be discussed by Mr. Aquino and Hu, Liu said it “is just a little part of the general relations between our two countries, so the discussions on that issue will be placed in a proportionate agenda.”

“During the visit to China by Secretary del [Albert] Rosario, he reached a consensus with the Chinese foreign minister that they should try to avoid the effect that the debate over the issue affects the general relationship of our countries,” Liu said.

Liu said the China was open to negotiate with the Philippines and other claimant countries a joint exploration activity in the disputed islands in the South China Sea.

“We have to reach a consensus. We need to have further dialogue and consultations on how to go about it,” said Liu.

On his first day in Beijing, the President will have one-on-one meetings with some Chinese businessmen, and keynote the Philippines-China Economic and Trade Forum before engaging in bilateral talks with President Hu.

The following day, he will have separate meetings with Chinese Premier Wen Jiabao and Chairman Wu Bangguo of the National People’s Congress.

In Shanghai and Xiamen, the President will meet with Chinese businessmen and high-level officials; at every stop, he will meet with members of the Filipino community. 

(With Estrella Torres)