MANILA, Philippines (AP) - The Philippines and China will put their disagreements over overlapping claims to South China Sea islands on the back burner as the Philippine president was to begin a weeklong visit on Tuesday aiming to sharply increase trade with Beijing.
President Benigno Aquino III is leading a delegation of almost 300 business leaders on a trip during which the Philippines and China are expected to agree on a five-year economic development plan seeking to boost two-way trade six-fold, to about US$60 billion (S$72 billion).
Most of it will be Chinese investments in manufacturing, railways, shipyards, mining and tourism as the Philippine economy continues to grow and Aquino's government seeks funds to increase spending on social services to reduce poverty, his main election promise.
A third of the Philippine population of 94 million live on a US$2 or less a day, and the country's economy largely relies on remittances from overseas Filipino workers - about 10 per cent of the populace.
