MANILA, April 29 (Xinhua) -- Philippine President Rodrigo Duterte said on Saturday that China-proposed Belt and Road initiative is good for Southeast Asia, noting that the initiative will help China's neighbors like the Philippines.

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.

"It (the Belt and Road initiative) is important because it starts here in the region ... It is helping neighbors and at the same time broadens the market," Duterte told a news conference at the end of the 30th Association of Southeast Asian Nations summit which was held here in Manila.

Again, the Philippine president thanked China for the help it is extending to the country.

Duterte had earlier said that he is looking forward to his second trip to China this May to attend the Belt and Road Forum for International Cooperation in Beijing.

Not wanting to be left out, the Philippines has said it intends to hit the road with China in pursuing its own economic strategy which focuses on building the country's infrastructure.