Canadian chamber explores trade ties with Cebuanos

CEBU, Philippines - The Philippine Chamber of Commerce Toronto (PCCT) has started its aggressive stance to strengthen the trade relationship with the Philippines and Canada, following the recently concluded trade mission in the Philippines.

Delegates from PCCT were in Cebu recently to explore partnership and linkages with Cebuano businessmen, through their mission “Exploring Business Opportunities in the Philippines.”

Supported by the Canadian Chamber of Commerce in the Philippines (CanCham), the delegates were welcomed by former Ambassador Frank Benedicto, who expressed his optimism in the potential of Canada’s products in the Philippine market.

Benedicto said that reciprocally, the two countries could offer quality export native products which include varieties of food, gift items and furniture.

According to Benedicto the interest of the Canadian-based businessmen to the Philippines, and Cebu serves as a stepping stone to pave the way towards enhancing awareness of business and investment opportunities including joint ventures in various fields like mining, tourism, development of hotels, resorts, power plants, electronics, call centers, among others.

The 10 delegates who are members of PCCT are engaged in various businesses on trading, export, import and expressed interest for possible businesses and investments in the Philippines, and Cebu in particular.

Last year, CanCham and PCCT signed a Memorandum of Cooperation to support business and development in the Philippines and Canada, particular in promoting international trade, private sector investments, and others.

The 10-man delegation met with selected Cebuano traders and the two-day visit was spent in visiting factories here, and exploring other opportunities for business and investments specifically in import, export, health, wellness and tourism.

During the business briefing, Embassy of Canada to the Philippines senior trade commissioner Karra-Lee Gerrits, said that Canada-Philippines trade relations and prospects are promising.

Gerrits mentioned that the over 600,000 Filipinos residing and working in Canada is one of the few testaments of the two nations’ strengthening relationship.

About 10 percent of remittances from OFWs (Overseas Filipino Workers) come from Canada. The Philippines on the other hand, is Canada’s 45th source of imports, and its 35th destination for exports.

The top five Canadian exports to the Philippines are copper concentrates, meat (pork and poultry), cereals (wheat and oats), potassic, and lumber.  While Canada’s top five imports from the Philippines include; electrical machinery (cable circuitry), optical components, computers, office machinery, knit apparel, tires, coconut and dried mangoes.         

Meanwhile, in an earlier interview with CanCham president Julian Payne, he said that Canada is not only attractive for immigrants looking for job opportunities, but also for entrepreneurs.

This segment, he said is also an opportunity for non-Canadian nationals to take advantage of the dynamic economy in Canada, while it is hardly affected by the twin economic crisis that hit the United States and Europe. (FREEMAN)