FUZHOU, CHINA - Media OutReach Newswire - 11 June 2024 - On May 31, 2024, 6 members of the Seaweed Industry Association Philippines （SIAP） were invited to attend the ASEAN — China, Japan, and South Korea Seaweed Cooperation Meeting held in Fuzhou, China. Mr. Alfredo III Pedrosa, the former president of the SIAP reviewed the cooperation with China in the seaweed industry since 2018. He believed that China has advanced technology in seaweed processing, while the Philippines has the advantage of producing tropical seaweed. Therefore, the seaweed farmed in the Philippines mainly benefits from exports to China. Due to complementary industrial advantages, cooperation with China will, to a certain extent, enhance the Philippines' position in the global market, especially the seaweed industry in the Asia-Pacific region. China and the Philippines are the dominant players in the global seaweed market, China's seaweed processing enterprises source raw materials from countries such as the Philippines, promote good market and production, and attract many people and seaweed farmers to participate in this type of activity, which represents a good partnership and combination. Finally, they look forward to working together to achieve the development goals of the resilient and long-term sustainability of the seaweed industry.

Agromar Enterprises is a supplier of seaweed products in the Philippines, focusing on the production and export of seaweed products. With the help of Chinese partners, the company has successfully obtained the qualification to export seaweed products to China. Ms. Soraida T. Omar, manager of the company, said that China and the Philippines are friendly neighbors and there is great potential for trade cooperation between the two countries. Through the export of seaweed to China, it will actively promote the development of the Philippines' international seaweed trade and inject new impetus into the economic development of the two countries.

Cultivating more seaweed can not only increase employment and help local people earn more through seaweed farming in the Philippines but also form a large number of blue carbon sinks, becoming an important way to respond to global climate change. It is believed that through the participation of more enterprises such as Agromar Enterprises, the Philippines' seaweed trade with China will bring more opportunities, breakthroughs, and benefits to the two countries, and inject vitality into the regional prosperity and stable development of the Philippines and China.

The issuer is solely responsible for the content of this announcement.