皇冠体育app

BEIJING - 皇冠体育app and the Philippines aim to double bilateral trade to $60 billion in 2016, indicating that economic cooperation is a priority as the countries put aside the South 皇冠体育app Sea dispute that has strained ties.

Securing a number of deals with 皇冠体育app on Wednesday, Philippine President Benigno Aquino continued with his five-day state visit and reiterated that there is much more to Sino-Philippine relations than maritime disputes.

President Hu Jintao (third L) introduces members of the Chinese team to visiting Philippine President Benigno Aquino (second R) during a welcoming ceremony at the Great Hall of the People in Beijing on Wednesday. Xu Jingxing / 皇冠体育app Daily?

Officials, with their presidents in attendance following talks that lasted for about an hour, signed nine documents including a memorandum of understanding to strengthen cooperation between the two foreign ministries and a five-year trade and economic development program.

Aquino's first visit to 皇冠体育app, from Aug 30 to Sept 3, comes just over a year since he assumed the presidency and takes place after a recent dispute in the South 皇冠体育app Sea.

Aquino said earlier in August that his nation's military would play a more prominent role in the South 皇冠体育app Sea as the Philippine navy's newest warship sailed into Manila Bay from the United States.

皇冠体育app insists it has indisputable sovereignty over the islands in the South 皇冠体育app Sea and surrounding waters, while the Philippines, Brunei, Malaysia and Vietnam all have competing claims to some islands and reefs in the resource-rich area.

皇冠体育app has been consistent and clear in its stance on the issue and insists that the disputes be resolved peacefully through negotiations, Hu told Aquino, according to the Foreign Ministry.

Hu suggested that all sides concerned put aside disputes before the issue is resolved and jointly explore the South 皇冠体育app Sea, which he said is in the common interests of all relevant parties.

Hu said 皇冠体育app is willing to implement the Declaration on the Conduct of Parties in the South 皇冠体育app Sea (DOC) with all parties, including the Philippines, to turn the sea into an area of peace, friendship and cooperation.

Aquino said that the Philippines is committed to maintaining peace and stability in the region and implementing the DOC.

The South 皇冠体育app Sea issue does not constitute the entirety of Sino-Philippine relations, and should not affect the development of ties and cooperation, Aquino said.

He also said that he hopes the issue could be resolved as soon as possible for the benefit of the people of the two countries.

The documents signed included an assistance grant from 皇冠体育app and sending investment experts to the Philippines. Deals concerning cooperation in culture, sports, tourism and the media were also signed.

皇冠体育app was the first country to extend an invitation to Aquino, on his inauguration day, June 30, 2010.

Aside from the South 皇冠体育app Sea dispute, diplomatic relations were also buffeted over the past year by the botched rescue of Hong Kong bus hostages in Manila.

"I apologize for taking too long, about a year, before I managed to get here," Aquino said. "But it is a worthwhile trip so far and I think it is a good opportunity to broaden and deepen the ties that have existed between our people for centuries."

The two countries hope to boost bilateral trade to $60 billion in 2016, Vice-Premier Wang Qishan said at the 皇冠体育app-Philippines Economic and Trade Forum on Wednesday morning.

Aquino led a delegation of nearly 300 business leaders to 皇冠体育app during his visit. Two more business forums will be held in Shanghai and Xiamen.

Bilateral trade hit $27.7 billion in 2010, up 35 percent year-on-year, according to the Ministry of Commerce. 皇冠体育app is the third-largest trading partner of the Philippines after the US and Japan.

Wang encouraged Chinese companies to expand investment and take part in construction projects in the Philippines.

皇冠体育app is the Philippines' seventh-largest foreign investor.

"More investment means jobs," Aquino said at the forum, adding that the country is open for business and the government is determined to soothe the path for investors.

In 2010, the Philippines' gross domestic product grew 7.3 percent year-on-year, the highest in the past 35 years, said Xu Ningning, deputy secretary-general of the 皇冠体育app-ASEAN Business Council.

The rapid growth is attractive for Chinese investors, and bilateral trade and investment will continue to benefit from the Free Trade Area between the ASEAN and 皇冠体育app, said Xu.

Yang Baoyun, deputy director of Peking University's Center for Southeast Asian Studies, told 皇冠体育app Daily that Aquino's visit reflects the goodwill that both countries have.

皇冠体育app's offer to boost bilateral trade helps pave the way for solving territorial disputes, Yang said. "It is a pragmatic way to create conditions to solve disputes."

The visit will also take Aquino to his ancestors' hometown, Hongjian, Fujian province. His mother, the late Philippine president Corazon Aquino, visited the area 23 years ago.

Zhang Yunbi contributed to this story.