MANILA – One of Thailand’s largest agricultural firms is planning an additional $500-million investment in the Philippines in the near term, Trade Secretary Ramon Lopez said Thursday.

Thailand has committed more investments and exports to the Philippines after President Rodrigo Duterte’s official visit there this week.

Charoen Pokphand (CP), which manufactures aqua feed in the Philippines, has a medium term investment goal of $2 billion, Lopez told ANC.

The company’s Philippine unit employs 2,000 people, he said.

Duterte also visited Myanmar, where he committed to help Filipino companies expand in the formerly reclusive state, Lopez said.