DTI chief invites investors in food production and agriculture
Department of Trade and Industry Secretary Fred Pascual expressed a positive outlook about the Philippines’ participation in the 5th China International Import Expo held on 6 November 2022 in Shanghai, China.
“Our participation in the CIIE has become not only a practical response to an opportunity but an imperative to expand our international market, and solidify the Philippines’ reputation as a reliable sourcing destination for food”, Pascual said.
The Philippines’ participation in the CIIE, through a Food Philippines Pavilion, was facilitated by the DTI’s Center for International Trade Expositions and Missions and the Philippine Trade and Investment Center in Shanghai. CIIE is the first import-themed, national-level expo in China that features international exhibitors across various sectors.
The country’s participation in this year’s expo was meant to provide an opportunity to expand the market access of Filipino products and further solidify trade relations between the Philippines and China.
The CIIE exposition has consistently yielded positive results for the Philippines since its inception in 2018, resulting to $128 million in sales and a record-high $590 million in 2021.
Highlighting DTI’s science, technology, and innovation-driven industrialization strategy, Pascual invited companies, potential partners, and stakeholders to invest in the Philippines, particularly in food production and agricultural investments.
“We also invite partners to help complete, complement, and upgrade our food production value chain through the utilization of science, technology, innovation, and essential digital technologies that will enable our industries to be in a relatively improved position that will pave the way for industrial transformation”, he said.
The Philippine Trade and Investment Center offices in Shanghai, Beijing, and Guangzhou continue to be at the forefront of the Philippines’ trade and investment promotional efforts in China. Through the Pavilion, the Country aimed to highlight the shared roots of the Philippines and China as a take-off point for a stronger bilateral trade relationship.
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