Philippines, Singapore keen to expand bilateral trade

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Friday, August 29, 2014


THE Philippines and Singapore intend to pursue projects that aim at expanding their bilateral investments and promoting increased awareness on opportunities.

In a letter to Trade Undersecretary for Trade and Investment Promotions Group Ponciano Manalo, Foreign Affairs Undersecretary for International Economic Relations Laura del Rosario said these projects include regular exchange of missions with business matching such as the Philippines-Singapore Business Council (PSBC) annual, the International Enterprise (IE) Singapore missions to the country and business seminars in Singapore.

Del Rosario said the Singapore Business Federation (SBF) will conduct a mission to the Philippines during the latter part of this year.

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SBF is the apex business chamber that champions the interests of Singapore business community in trade, investment and industrial relations.

Del Rosario said other projects include adopting a Manila + Strategy to look at opportunities in other areas such as Cebu and Davao and identifying projects in preparation for the Asean Economic Community (AEC) next year.

She said these projects were identified during a meeting last month of Philippine Ambassador to Singapore Antonio Morales and Commercial Counselor Glenn Penaranda with Siong Seng Teo and Ho Meng Kit, chairman and chief executive officer (CEO), respectively, of the SBF.

She added that SBF officials have expressed readiness to pursue these projects and organize or invite its members to attend meetings or roundtables with finance and/or trade officials.

Del Rosario also said that during the meeting with Teo, the Embassy officials also conveyed the proposed visit by Trade Secretary Gregory Domingo and other officials to Singapore for a Public Private Partnership roadshow in September.

Published in the Sun.Star Davao newspaper on August 30, 2014.

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