B.C. government to open trade office in Philippines

  • Page Views 4200
  • “British Columbia has well-established cultural ties with the Philippines. The seeds of international trade begin with cultural connections and enduring personal relationships,” Anton said.

    trade

     

    Photo: Neil Ferrer, Philippine Consul General in Vancouver, holds a sign at a December 4 announcement by B.C. Minister of Justice Suzanne Anton (left of Ferrer) that the province is opening a trade and investment office in the Philippines. Also in the photo are (left) Amrik Virk, BC Minister of Innovation, Technology and Citizen Services, Mable Elmore, MLA Vancouver-Kensington and Jorge Marco, President of Philippines-Canada Trade Council.(Photo by Paul Larosa of PNC/Balitang Vancouver)

    The expansion of B.C.’s trade presence into the Association of Southeast Asian Nations (ASEAN) region is part of the province’s new Asia trade strategy.

    A presence in ASEAN will put B.C. on the doorstep of an economy that’s valued at $2.4-trillion and has annual growth forecasts above five percent for the next five years.
    ASEAN is an economic region made up of the Philippines, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand and Vietnam. A trade presence in the Philippines will help B.C. companies identify andcapitalize on new trade and investment opportunities in a market that is experiencing significant economic growth itself.
    The Asia Development Bank forecasts GDP growth of 6.3 percent in the Philippines in 2016, up from six percent in 2015.

    Wat said: “The Philippines represents a huge opportunity to grow B.C. exports and attract investment to our province and that’s why we’ve made it a key priority market. By expanding B.C.’s export capacity, attracting investments that grow B.C.’s key sectors, and growing economic relationships in Asia and in the ASEAN region specifically, we can create more jobs for British Columbians.”

    Since the launch of the BC Jobs Plan in 2011, exports to the Philippines have grown 48 percent and B.C. has emerged as the largest provincial exporter to the Philippines, with 41 percent of national exports in 2014.

    Amrik Virk, Minister of Technology, Innovation and Citizens’ Services, said: “The British Columbia Filipino community is a powerful ally for our economy. The opening of this formal office is building on our strong personal relationships.”

    The establishment of this trade and investment representative office will also coincide with ASEAN launching its own economic association, the ASEAN Economic Community, which will be established in early 2016.

    This association will create the world’s seventh-largest single market of 600 million people.

    This will be B.C.’s 12th international trade representative office, building on the BC Jobs Plan commitment to double B.C.’s international presence. The trade and investment representatives (TIRs) who staff these offices connect B.C. businesses with new markets and trade opportunities and promote British Columbia as a stable and attractive destination for investment.

    In 2014-15, TIRs played a critical role in facilitating  and supporting more than 160 inbound and outbound international missions involving B.C. companies and organizations and helped facilitate 271 international business agreements – almost quadruple the target of 60.

    B.C. currently has 11 trade and investment representative offices based in Japan, Korea, India, China, Europe and the United States.

    As a single entity, ASEAN forms Asia’s third largest economy after China  and Japan and is the fourth largest import market in the world.

    tradephilipines

    tradephilipines2

    Share

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    New Posts Recently publish post More

    • 18 August 2022
      13 hours ago No comment

      Daza siblings say BBM will do what’s best for Philippines

      When Ferdinand “Bongbong” R. Marcos Jr. had his inaugural at the National Museum on June 30, 2022 as the 17th President of the Philippines, he reserved a seat for his late best friend, Gabriel “Bong” Daza. Seat No. 17 was dedicated for Daza, who passed away on July 14, ...

    • 28 July 2022
      3 weeks ago No comment

      BBM states in SONA: “We will endure”

      President Ferdinand “Bongbong” Marcos Jr. struck a hopeful note in his first State of the Nation Address or SONA on July 25, 2022. Marcos delivered his speech before a joint session of Congress, with Senate President Juan Miguel Zubiri and House of Representatives Speaker Martin Romualdez behind him. “We ...

    • 28 July 2022
      3 weeks ago No comment

      Tips to Stay Cool and Safe During Extreme Heat

      Surrey, BC – With warmer than average temperatures arriving, the City of Surrey is reminding residents to take the necessary steps to stay safe in extreme heat, how to spot the signs of heat exhaustion, and where to find public pools, spray parks and air-conditioned civic facilities for heat ...

    • 21 July 2022
      4 weeks ago No comment

      Ed Lantin exhibit, Buto-Buto play showcase Filipino artistry in Vancouver

      Filipino artistry is once again in full display in Vancouver with two shows, and the Philippine Consulate General is at the forefront of promoting these events. One is the Edgardo Lantin Art Exhibit, and the second, a theatrical production titled “Buto/Buto: Bones are Seeds”. The Lantin art exhibit and ...

    • 14 July 2022
      1 month ago No comment

      “Heaven Can Wait”: ART ALAFRIZ

      To all of you who have shared my 84 year journey through life no matter how brief, I thank you for being part of it as every moment adds spice and color to a life I consider well lived. LIVING WITH CANCER June 16, 2022 at the Surrey Memorial ...

    %d bloggers like this: