• Page Views 2147
  • Canada is eyeing the Philippines as one of its top development and trade partners. In a press luncheon held recently in Manila, Canadian Ambassador to the Philippines Neil Reeder said his government has short-listed the Philippines among a group of countries with which greater trade relations would be pursued. According to Reeder, the Philippines has been designated “as a country of focus for development cooperation”.

    “What this means is a special focus on the Philippines. With 90 percent of all our bilateral development assistance going to 25 countries of focus and one of those is the Philippines. We anticipate that growth in our development programming in the country as a result of that decision,” the Canadian Ambassador said.

    Bilateral trade between the Philippines and Canada stood at about $1.7 billion based on 2013 figures, up 15 percent year-on-year. The Philippines’ exports to Canada reached at least $1.1 billion.
    mostly to measures aimed at improving the investment climate, sustainable growth, and economic opportunities to the poor.

    This year, Canada aims to support Philippine initiatives in tourism, and in the small and medium enterprise sector, Reeder said.

    Besides being a development funding priority, the Philippines is considered a priority emerging market among the 20 countries under Canada’s global markets action plan.

    “What this means is that plan will focus our trade efforts in emerging markets where we see the greatest potential for Canadian exports.

    And those are also markets like the Philippines that have strong economic growth and strong growth potential,” Reeder said. Canada is banking on the “Filipino diaspora” — or its more than 800,000 Filipino immigrants — to act as a bridge for Canadian goods and services to the Philippines.

    In line with this, Canada will hold a number of trade missions to the Philippines in the coming months with particular focus on agriculture, defense and security, education, infrastructure, ICT (information communications technology), mining, as well as clean and sustainable technologies.

    The Philippines however needs to improve its infrastructure, particularly its “air linkages”, and ease foreign investment restrictions under the Constitution to facilitate growth in trade relations, Reeder said.

    “That kind of constitutional change would be welcome because that would facilitate longer term investments. If you look at the Philippines compared to other countries in Asean, you’re still below that tier of countries that generate more foreign direct investments,” Reeder said.

    Share

    Related Post

    Related Blogpost

    Leave a Reply

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

    New Posts Recently publish post More

    • 10 November 2022
      3 weeks ago No comment

      Golden Gift Society receives donation, accepts new members

      A Metro-Vancouver nonprofit dedicated to helping the less fortunate continues to touch the lives of many. More people are going to benefit from the work of the Golden Gift From The Heart For People In Need Society as it recently accepted a generous donation and grew its ranks with ...

    • 06 October 2022
      2 months ago No comment

      Filipinos run in October 15 municipal elections

      At least 10 Filipinos are running in the October 15 municipal elections in B.C. The candidates are vying for posts in council and school board in different cities across the Greater Vancouver region. The most prominent of the candidates are Maita Santiago, who is running for council in Burnaby, ...

    • 22 September 2022
      2 months ago No comment

      Vhong Navarro under NBI custody for rape charge

      Metro Manila — TV host and actor Vhong Navarro remains under the custody of the National Bureau of Investigation (NBI) as of Tuesday, a day after he was slapped with two arrest warrants over complaints filed by model-stylist Deniece Cornejo in 2014. Navarro’s camp has yet to file a motion ...

    • 22 September 2022
      2 months ago No comment

      Meet and greet with Jinny, Ramon and Surrey Forward

      The Surrey Forward party is ready to serve the city and its residents. Surrey Forward is fielding Jinny Sims as mayoral candidate in the October 15, 2022 local election, and the party also has seven candidates for council. One of these candidates is Filipino Canadian financial professional Ramon Bandong. ...

    • Queen-Elizabeth-King-Charles-2022
      15 September 2022
      3 months ago No comment

      Farewell Queen Elizabeth, Long live King Charles!

      The world is mourning the death of Queen Elizabeth II, U.K.’s longest-serving monarch, who died on September 8 at the age of 96. Queen Elizabeth, whose reign spanned 70 years, was succeeded to the throne by her eldest son Charles, who has been proclaimed as King Charles III. The ...

    %d bloggers like this: