The Philippines targets new record sales for its participation in this year’s China International Import Expo (CIIE) amounting to USD700 million, Department of Trade and Industry (DTI) Assistant Secretary Glenn Peñaranda said at a virtual briefing Tuesday.

The country is nearing to hit its sales target as the Philippine pavilion opened the CIIE on Monday with USD610 million sales, USD603 million of which are from fresh fruits and marine products and some USD7 million are from processed agricultural goods.

“These are not only MOUs (memoranda of understanding) but really purchasing agreements,” DTI Undersecretary Ceferino Rodolfo said.

CIIE is China’s largest buying expo, where it only hosts foreign enterprises eyeing to tap the huge Chinese market. No Chinese companies participated in the CIIE.

China annually holds the CIIE during the first week of November at the National Convention and Exhibition Center in Shanghai to scout for foreign sources of products to be supplied to the growing demand of the Chinese market.

This year’s buying expo will conclude on Friday.

The Philippine pavilion is featuring durian for the 2023 CIIE.

Philippine Agriculture Attaché in Shanghai Ana Abejuela said at the same briefing that majority of the USD630-million sales are from bananas and durian, wherein the latter just started exporting in April this year.

Abejuela said there are big opportunities for durian farmers and exporters in the Philippines in catering to the demand of China.

“Volume has always been a challenge for all of our fresh and processed food to China,” she said, adding that the Department of Agriculture (DA) has an expansion program for the local durian industry to increase their production and maintain the quality of the fruit.

In 2022, Philippine sales at the CIIE reached USD655.15 million, the highest sales for the country for the said expo. (PNA)