MANILA, Philippines--European businessmen urged their local counterparts as well as the government to give more focus to Europe as a trading partner, considering that it represented the biggest single market in the world.
Hubert d'Aboville, president of the European Chamber of Commerce of the Philippines, said the United States was not the center of the world and that Europe was not getting the much deserved attention from the Philippine business sector.
"Look at the market distribution of the business process outsourcing industry: 65 percent goes to the US, 25 percent goes to Asia and 10 percent goes to Europe," D'Aboville said.
"Mind you, the European outsourcing market is larger than the US market," he added. "That is why we formed Team Europe [which would help promote the Philippine BPO] sector."
D'Aboville said more focus on Europe could also help reverse the trend of declining Philippine exports to the continent.
"This would entail the task of expanding the product range from the monoculture of electronics and semiconductors to more manufactured products, processed food and services," he said.
Even then, the ECCP president said more "decisive attempts" have to be made to increase the visibility and enhance the image of the Philippines in Europe.
D'Aboville said that a quick Google search would show that global media coverage of the Philippines, which reach Europeans, relate to coup attempts, terrorism, typhoons, murder and negative economic reports such as those referring to German firm Fraport AG.
Fraport is seeking compensation from the government for the Ninoy Aquino International Airport Terminal 3, which was expropriated in 2004 amid a controversy regarding the contracts for the project.
D'Aboville said the Naia 3 fiasco was "the single issue that stands as the largest obstacle" in attracting foreign investment to the Philippines, particularly in the area of much-needed infrastructure projects.
The official said the challenges that the Philippines need to resolve included allowing foreign ownership of utilities and land as well as removing restriction for foreign professionals to practice in the country.
