The Philippines and Singapore remained keen on pursuing programs to expand their bilateral trade and investment relations, the Philippine Exporters Confederation Inc. said Friday.
Citing the letter sent to Trade Undersecretary Ponciano C. Manalo Jr., Foreign Affairs Undersecretary Laura del Rosario was quoted as saying that the proposed projects included the regular exchange of missions with business matching and seminars involving the Philippines-Singapore Business Council (PSBC), Singapore Business Federation (SBF) and the International Enterprise (IE) Singapore.
Del Rosario said these projects were identified during a meeting among Philippine Ambassador to Singapore Antonio Morales and Commercial Counselor Glenn Penaranda with Siong Seng Teo and Ho Meng Kit, chair and chief executive officer, respectively, of the SBF.
SBF, which will conduct another mission to the Philippines later this year, has also expressed willingness to pursue these projects and organize or invite its members to attend meetings or roundtables with finance and/or trade officials.
SBF is the main business chamber that champions the interests of the Singapore business community in trade, investment and industrial relations, Philexport explained.
Other projects agreed upon during the meeting included the adoption of a Manila + Strategy so that Singaporean investors could look at opportunities in other areas, such as Cebu and Davao. This will also enable parties to identify projects in preparation for the Asean Economic Community (AEC) next year.
Singapore President Tony Tan Keng Yam was in the Philippines in April this year and the visit was said to be a “sign of the growing relationship in all aspects between the Philippines and Singapore.”
With him was a high-level delegation comprised of Singaporean firms looking to tap investment opportunities in the country’s agriculture, retail and infrastructure industries, attracted mainly by the Philippine economy’s resurgence and robust growth of local demand.