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Friday, July 22, 2005
Australia to invest more
To improve bilateral relations with the Philippines, Australia hopes to put more investments in the mining sector, and buy more fruits and processed food from the Philippines.
Tony Hely, Australian Ambassador to the Philippines, said they intend to strengthen trade with the Philippines despite the political and economic crises the country is facing.
“For us, it’s business as usual. We’re just doing what we can to reinforce the bilateral relationship regardless of the current political events,” Hely told reporters in Cebu at the Tinderbox last Wednesday.
“Our task is to work with the government of the day and build a relationship with the current administration. The governments won’t allow the domestic political events to influence the bilateral relationship,” he added.
The Philippines is facing a crisis due to allegations of election fraud involving President Gloria Arroyo, prompting various sectors to call for her ouster.
The trade and investment relationship of the Philippines and Australia has “not been as strong as it might have been” in the last three to four years, so Australia now wants to “invigorate” it to reach the level of relations with the other countries in Southeast Asia, Hely said.
He expressed gladness over San Miguel Corp.’s “multibillion-dollar” investment in Australia and the interest of about six Australian firms to invest in the mining industry in the Philippines.
“It’s an opportunity to lift Australia’s investment presence in the Philippines,” he said.
Aside from mining, Australian investors are also interested in food and wine, which Hely said is an “important sector.”
They also plan to put money in the education sector, which is seen to benefit both countries.
Australia also sees the potential to invest in fashion wear, beauty products and natural products in the Philippines.
With strong competition hurting its beef exports, Hely said Australia is now looking at exporting live animals, like goats and race horses, which is getting the interest of Filipino buyers.
On the other hand, Australia is also encouraging Filipino fruit producers to export mangoes, pineapples and bananas.
However, he admitted that his country has a strict quarantine protocol.
Aside from fresh fruits, Australia is also interested in processed fruits and fruit juices.
Since most Australians are “great travelers,” Hely said the sights and the dive spots, like the ones in Cebu, appeal to them.
However, he said that there is a need for the tourism sector to promote these destinations to potential tourists in Australia.
In the middle of next month, the foreign affairs and trade secretaries of the Philippines will meet with the foreign affairs and trade ministers of Australia for the Philippines-Australia ministerial meeting. (CYR)
(July 22, 2005 issue)
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