BBM talks trade with WTO chief and Canadian trade minister

President Ferdinand "Bongbong" Marcos Jr. sought to market the Philippines as a trade hub with other countries when he met with Canada and World Trade Organization (WTO) officials in Malacañang Palace.

On Wednesday, he welcomed WTO Director-General Dr. Ngozi Okonjo-Iweala and discussed the “big plans” of the Philippines in enhancing trade and commerce with partners.

Marcos emphasized that trade has become more significant, especially during the recovery from the COVID-19 pandemic.

“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,” he told Okonjo-Iweala.

For her part, Okonjo-Iweala commended the Philippines, especially its strong economy 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,” she said.

“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,” she added.

The WTO official is in the Philippines to meet with the Secretaries of Finance, Trade, and Agriculture.

Meanwhile, the President also welcomed Canadian Minister for Export Promotion, International Trade, and Economic Development Mary Ng.

Marcos highlighted 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.

In response, Ng affirmed Canada’s confidence in its partnership with the Philippines as Canadians have expressed their interest in conducting business in the country.

“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,” she 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.

The Canadian official is in the country for the Team Canada Trade Mission (TCTM) Philippines, being held in Manila from 4 to 6 December.

More than 300 delegates representing 180 companies are gathered at the TCTM Philippines. They are expected to secure significant investments, forge new partnerships and business initiatives, and create job opportunities for Filipinos.