BUSINESS leaders from Italy are in Manila exploring opportunities in the country following the strong confidence in the government and in the domestic economy.
It is the first Italian business mission in 65 years that was organized by the Department of Trade and industry (DTI) and Italy’s Confederation of Italian Industries (Confindustria), Trade and Industry Undersecretary Cristino L. Panlilio said.
“Our long diplomatic relationship has been there since 1947. We are equally committed to strengthening even further our relationship in terms of investment and trade. Various forms of economic cooperation have already been established between the Philippines and Italy,” Panlilio said.
The Philippine products identified by the Bureau of Export Trade Promotion (BETP) for Italian investors are processed marine products, processed fruits and coconut products, costume jewelry and giftware, automotive parts, home furnishings, information and communication technology (ICT) products and services, and garments.
Panlilio said that prominent Italian businessmen could now look at the Philippines for investment and trade enhancement opportunities.
Confindustria, Italy’s biggest association of manufacturing and services companies, sent last Nov. 20 a 21-member delegation to meet with trade associations such as the Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Filipino Chinese Chamber of Commerce and Industry (FFCCCI), the Italian Chamber of Commerce of the Philippines (ICCP) and the European Chamber of Commerce of the Philippines (ECCP).
“Italy is one of the most eminent countries that have sent an inbound mission to the Philippines,” Panlilio said.
The delegation had parallel sectoral programs on trading, infrastructure and energy. Business-to-business meetings were also arranged between Italian and Philippine companies.