MANILA, Oct. 3 (Xinhua) -- Philippine Finance Secretary Carlos Dominguez on Tuesday thanked China for supporting the country's economic development.
In a statement released by the Philippine Department of Finance, Dominguez said, "We are grateful for the enthusiastic support China has offered to help us grow our economy rapidly."
"I am sure there are many complementary points that will ensure the sustained growth of an inclusive economy in the Philippines," he added.
Dominguez noted that "there is much to look forward to in our trade and investment partnership," stressing that there is also much ground for optimism in the vitality of this partnership.
Dominguez spoke highly of the China-proposed Belt and Road Initiative and the China-initiated Asian Infrastructure Investment Bank (AIIB).
He said these initiatives "will bring lasting benefits to all countries in this region and will set conditions for more comprehensive trade" in the region.
"The Philippines is happy to cooperate with both the AIIB and Belt and Road program," he said.
Proposed by China in 2013, the Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aiming at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of Silk Road.
Officially launched in January 2016, the Beijing-based AIIB is a multilateral development bank initiated by China and supported by a wide range of countries and regions, which will provide financing for infrastructure improvement in Asia.