Business and Investment Opportunities in The Philippines, One of the Dynamic Economies of Southeast Asia Were Discussed in ICI

  • 26.09.2019
  • News
filipinler-ulke-gunu-01

Istanbul Chamber of Industry (ICI) introduced the business and investment opportunities in the Philippines, one of the dynamic economies of Southeast Asia in the Philippines Country Date and Investment Opportunities. Raul S. Hernandez, Ankara Ambassador of Philippines participated in the event organized in Odakule which is chaired by Mustafa Tacir, ICI Board of Directors Member. Numerous industrialists and business people who want to have information about the investment and cooperation opportunities in the country participated in the event.

Stating that as a member country of World Trade Organization and ASEAN, the Philippines has conducted works to facilitate the foreign trade for 20 years and tried to decrease the off-tariff obstacles, Tacir reminded that the Philippines is the first ASEAN member country to take place in Generalized System of Preferences since December 2014. Providing information that approximately 6200 items mostly in food and agriculture field have granted with the right to enter into EU without being subject to customs tax, Tacir added that labor force and common English usage are just the two advantages of the country has in terms of investment.

İSO Yönetim Kurulu Üyesi Mustafa Tacir
Mustafa Tacir
ICI Member of Board of Directors

Providing information about the economic relations between Türkiye and Philippines, Tacir expressed that their export activities to Philippines in 2018 realized as 177 million dollars while import activities realized as 123 million dollars from Philippines. Expressing that foreign trade activities have realized in the similar levels in recent years and it has been under the actual potential, Tacir told that improvement of the reciprocal commercial and economic relations gained importance.

Drawing attention that if the companies and institutions which operate in the same business fields establish cooperation and conduct common production and marketing activities, the economic relations between Türkiye and Philippines which has realized in the similar particular levels because of the geographical distance and non-familiarity between the countries has a great potential, Tacir recorded that if they Turkish business people will get more familiar with the Philippines and focus on the matter more actively, it will have an important role in the increase in the trade volume between the countries.

Drawing attention that close economic cooperation to be established between Philippines and Türkiye will enable Turkish firms to benefit from the broad market to be emerged with ASEAN for which Brunei, Indonesia, Kampuchea, Laos, Malaysia, Myanmar, Singapore, Thailand and Vietnam are members, Tacir expressed that on the other hand the Philippine companies will have the chance to take place in the neighbor and close country markets over Türkiye. Tacir told that both countries have products complementing each other and both countries are in need of having more shares out of the other country geographies and taking place in new markets.

Filipinler’in Ankara Büyükelçisi Raul S. Hernandez
Raul S. Harnandez,
Ankara Ambassador of Philippines

Then Raul S. Hernandez, Ankara Ambassador of Philippines took the rostrum and made a speech. Stating that Philippines experienced a strong economic growth process, Raul S. Hernandez, Ankara Ambassador of Philippines said that they have experienced growth between the level of 5 and 7 percent on average during the last 10 years and they became one of the most grown economies of Asia with growth of 6,2 percent. Touching upon that powerful internal consumption is the driving force behind the economic performance of Philippines, Hernandez recorded that information technologies and electronic sectors have come to the forefront. 

Providing the information that Philippines has 108 millions of people and average of 24 age, Hernandez told they have a well-educated labor force. Touching upon the fact that Philippines people speak English very well, Hernandez stated that they are the fourth biggest country speaking English and have 14th biggest labor force. Inviting ICI member industrialists to make investments in Philippines, Hernandez told that they have a reliable economy, their products have a high competitive capacity in export markets, they are open for investment in various different sectors and have skilled and well-educated labor force. Hernandez wanted for Turkish industrialists and business people to consider Philippines as a partner in Asian market.

Then the panel titled as Türkiye-Philippines Trade, Cooperation and Investment Opportunities which was chaired by Mehmet Dolgan, ICI Vice General Secretary was held. Halil Ozturk, Trade Expert of Ministry of Trade Import General Directorate, Froilan Pamintuan, Commercial Attaché and Paris Philippines Trade Center Director provided information about Philippines economy and leading sectors. Selim Guvenc, Eleks Foreign Trade Sales Director and Esin Ozgun, Sam Yas Sebze ve Meyve Depolama Customer Director shared their experiences with the companies in Philippines in the part titled as Experiences of Turkish Companies in Philippines Market. After the presentations of the panelists, questions of the participants were answered by the panelists.