TRADE and investment opportunities await Cebuanos as the Canadian Chamber of Commerce of the Philippines (CanCham) opens today its third year celebration of Canada Day in Cebu.
CanCham-Cebu president Felix Tiukinhoy, in statement, said the chamber has prepared various opportunities Cebuanos can take advantage of, such as presentations on finance, immigration, governance, real estate properties, telecommunications and trade missions.
The event will also hold a two-day Mini Trade Fair at the Ayala Center Cebu and a networking night at the Cebu City Marriott Hotel.
According to Tiukinhoy, the event aims to provide an avenue for Cebuanos and Canadian business owners to explore trade opportunities between Cebu and Canada, banking on the strong bilateral relations between the Philippines and Canada.
In previous interviews, Tiukinhoy said he hopes to increase Canadian investments in Cebu by inviting foreign investors to consider the province as their next business expansion destination in Asia.
He also plans to link Cebuano entrepreneurs to their counterparts in Canada for local business owners to explore business opportunities to make their products prominent in the Canadian market.
“There are plenty of economic opportunities that Cebu and Canada can explore in the field of retirement, agribusiness, and education (student exchange program), among others,” said Tiukinhoy, who is the president and chairman of Cebu-based Virginia Foods Inc. (VFI).
In 2014, Canadian merchandise exports to the Philippines reached CAD$569.7 million while Canadian merchandise imports from the Philippines was about CAD$1,238.9 billion.
Canada’s trade and investment relationship with the Philippines spans many sectors.
Canadian companies with expertise in infrastructure (water and waste water, airports, green building), aerospace and defense, clean technology (renewable energy) are in a good position to take advantage of new opportunities within these sectors. In addition, the market for agricultural products in the Philippines continues to be robust, with significant potential for growth within the processed food and beverage sub-sector and health foods.
Based on the Philippine Development Plan 2011–2016, the goal of Canada’s bilateral development program in the Philippines is to support sustainable economic growth by improving the climate for investment and advancing the economic opportunities of poor women and men.
There are also increasing people-to-people links between Canada and the Philippines, with some 700,000 Filipinos in Canada. In 2014, Canada welcomed more than 40,000 permanent residents from the Philippines, making it Canada’s top source country for permanent residents last year.