BIZ BUZZ: PH unhappy with US rebuff
Manila is apparently “not happy” with the current policy direction from Washington to hold off on new free trade agreements, signaling disappointment from the Philippine side toward its longtime ally.
“We have to respect that [policy] pronouncement although we are not happy about that,” says one of President Marcos’ Cabinet officials.
To recall, US Trade Representative Ambassador Katherine Tai had told local press earlier in April that the United States is currently not considering traditional free trade agreements as the “appropriate” framework going forward.
With the announcement of a re-election run of US President Joseph Biden in 2024, the policy direction on free trade agreements will likely see a continuation for four additional years should the incumbent president secure victory.
Meanwhile, a local export industry leader said the recent rebuff from the United States toward the Philippines’ intent to have a free trade agreements was unexpected, citing that the latter made substantial concessions by agreeing to host more of their military facilities in the country.
“That’s a big concession on the part of the Philippines. We wish the concession was reciprocated through a free trade agreement,” said the export industry leader.
Earlier in February, the Philippine agreed to host four additional military facilities to host US troops and equipment on Philippine soil.
—Alden M. Monzon
BMW’s young Filipino racer
When one sells cars, it certainly makes sense to support people who drive them, more so if one is a luxury brand with a racing pedigree.
This is exactly BMW Philippines’ RSA Motors did after it recently inked a partnership with Filipino race car driver Eduardo Coseteng to further amplify the brand’s presence in the world of motorsports.
The 19-year-old racer is set to take part in the 2023 Team Motopark GT racing season under the banner of Schubert Motorsport.
Coseteng ventured into competitive kart-racing at a young age. His natural talent and enthusiasm for the sport soon brought him all over Europe and other parts of the world to set several notable records including an unbeaten record in the Macau Karting Grand Prix in 2019 and a Vice Championship at the IAME SEA Series 2017.
He secured his inaugural race win in October of 2022 at the ROKiT F4 British Championship.
“The timing of Eduardo Coseteng’s collaboration with RSA Motors couldn’t have been more perfect, as more Filipinos are developing a strong interest in motorsports,” said RSA Motors general manager Simeon Policarpio.In May 2023, the pre-season testing for the 2023 racing season will kick off in anticipation of the first race, which is set to take place on June 9 to June 11 at the Hockenheimring in Germany. Coseteng will be using a BMW M4 GT3 for all legs of the competition.
—Daxim L. Lucas
A treat for cats
Cats are in for a treat as Pilmico and Gold Coin Group, the international food subsidiary of the Aboitiz Group, unveiled the newest pet food product made for them.
Maxime Elite is Pilmico’s newest premium cat food line created for kittens, mother cats and adult cats. The product aims to ensure the high digestibility of proteins for better absorption of vitamins and nutrients.
Pilmico said premium quality ingredients were used in manufacturing the product, providing highly palatable kibbles, giving cats strong immunity, healthy skin and shiny coat.
“With the launch of Maxime Elite for cats, we want them to look good on the outside and also feel good on the inside with ingredients that make them stronger and healthier,” said Blessie Zarzuela, Pilmico national sales manager for pet category.
Maxime Elite, launched during the 3rd anniversary of Pilmico’s pet food category, is now available for purchase in the brand’s digital marketplaces Lazada and Shopee, and select pet stores in the Philippines and Vietnam.
Hoping to expand its product offering, Pilmico said it will continue introducing new products catering to the needs of pets such as dogs and pets.
“We have grown over the past years, expanding our product portfolio to meet every pet’s needs, no matter their breed or stage of life,” Zarzuela said.
