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The initiative has provided billions of dollars of funds for building ports, bridges, highways, and railways spanning Asia, Latin America, Africa, and parts of Europe.
“The BRI aims to open the border for free trade and fair trade,” FlorCruz said in an exclusive interview with CNN Philippines.
“It’s also a chance for countries to cooperate on infrastructure, clean energy, and in that sense, there are opportunities for countries like PH to benefit from it,” he added.
The envoy stressed that any deal of the country with another nation should always be aligned with national priorities.
“We need a lot of projects that align with our national priorities that include agriculture, infrastructure, clean energy and people-to-people exchange,” said FlorCruz.
He added that any bilateral agreement should result in tangible benefits that the people can feel.
If a shared interest or potential area of collaboration with China is found, FlorCuz said it is now the recipient country’s job to conduct extensive research or study.
“It’s an initiative that allows countries to cooperate on mutually beneficial projects,” he explained. “It’s up to the Philippines to figure out what we need, how we will use it and can we afford it.”
In 2018, the Philippines signed a Memorandum of Understanding (MOU) with China on the BRI during the time of former president Rodrigo Duterte.
The agreement was updated during President Ferdinand Marcos Jr.’s bilateral meeting with Chinese President Xi Jinping in January.
The two leaders signed a deal, prioritizing the construction of Pasig-Marikina River and Manggahan Floodway Bridges Construction Project, and two handover certificates on Chinese-funded Philippine infrastructure projects.
The third Belt and Road Initiative Forum is happening in Beijing until Oct. 18 with representatives from more than 140 countries and more than 30 international organizations.
Source: https://www.cnnphilippines.com/news/2023/10/17/belt-and-road-initiative-jaime-florcruz.html