PH business groups call for stronger trade ties with Turkey
MANILA -A number of local business groups are seeing the potential in expanding exports to Turkey, calling for more business collaboration in sectors such as agriculture, machinery production and food manufacturing.
Ruben See, president of the Philippine Food Processors and Exporters Organization Inc. (Philfoodex) said there would be mutual benefits to be reaped from enhancing partnership in these three industries.
Specifically, See called for deeper exploration of trade opportunities in agricultural products such as fruits, vegetables, coffee, spices and grains.
The Philfoodex official also mentioned the untapped potential when it comes to agricultural technology transfer and sharing of best practices in farming techniques, crop management and irrigation methods.
Further, See cited promising fields for investments including sustainable agriculture, agro-tourism, cooperative farming, agri-entrepreneurship and climate resilience programs.
Meanwhile, Philippine Exporters Confederation, Inc. (Philexport) vice president for advocacy, communications and special concerns Ma. Flordeliza Leong said that there’s much opportunity to expand Philippine exports to Turkey given the trade imbalance between the two countries.
Philippine exports to Turkey totaled $154 million in 2021, while Turkish exports to the Philippines reached $308.79 million in 2022, she noted.
“So there’s much room for [Philippine] export growth particularly for the agriculture sector,” Leong said.
“We also see potentials for motor vehicles, parts and accessories, nonretail synthetic staple fiber yarns, and industrial printers, which Turkey imported from us in 2021,” she said further.
On the other hand, the Philexport official said that the Philippines would continue to need Turkish products like industrial goods, fabrics and apparel, among others.
For his part, Foreign Buyers Association of the Philippines (Fobap) president Robert Young, who is also Philexport trustee for textiles, urged Turkish business to invest in the local textile industry.
Young, whose trade group exports about $1.5 billion worth garments annually in different parts of the globe, said the Philippines was still relying heavily on imported garment materials.
The Fobap official said that the local garment sector would need more suppliers and investors.
He also assured the Turkish business community of a conducive environment in the Philippines for foreign investments in the export sector, citing the recent amendment of the Foreign Investment Act, which had dropped foreign ownership limits in export-oriented enterprises. INQ
