The Philippines is strengthening its trade partnerships with Canada and other members of the World Trade Organization (WTO).
President Ferdinand R. Marcos Jr., in a meeting with WTO Director General Dr. Ngozi Okonjo-Iweala in Malacañang on Wednesday, highlighted the country’s “big plans” to enhance trade and commerce with partners.
Rising from the impacts of the COVID-19 pandemic, President Marcos emphasized trade has become more significant.
“We have big plans and I think one of the many things that we picked up from the conference just like Davos with interactions with other leaders and other countries, is that it really requires transformation. But trade has become more important than ever,” the President told Iweala.
The WTO official is in the Philippines to meet with the Secretaries of Finance, Trade, and Agriculture. She commended the Philippines for its strong economic performance despite global challenges.
“I want to start by congratulating you because I was looking at the numbers of the economy. And you are not doing badly at all. Six percent per annum growth rate in an environment of high inflation in the world, low growth rates. So I think the Philippines is doing reasonably well under the circumstances,” Iweala said.
President Marcos also met with Mary Ng, Canada’s Minister of Export Promotion, International Trade and Economic Development.
The President underscored the importance of engaging allied countries to position the Philippines as a leading investment hub.
“We’ve been trying very hard to restructure ourselves so just to make us more business-friendly, investment-friendly. And that’s why such all of these, our interactions, are important to us,” he said.
Ng and her delegation are in the Philippines for the Team Canada Trade Mission (TCTM) Philippines, which is taking place in Manila from December 4 to 6, 2024.
The TCTM Philippines, which includes more than 300 delegates representing 180 companies, is expected to bring significant investments, foster new partnerships and business initiatives, and create numerous job opportunities for Filipinos.
Ng affirmed Canada’s strong confidence in its partnership with the Philippines. “What that speaks through, Mr. President, is the confidence that Canadian businesses have, wanting to do business here in Manila, looking for opportunities to invest,” Ng said.
“So, I’m very, very excited. And there’s a lot of Canadians [that] are very excited about being here as well,” she added. | PND
