SBMA eyes sister port agreement with Belgium

Subic Bay Freeport — The Subic Bay Metropolitan Authority (SBMA) is seeking to establish an economic partnership with Belgium through a proposed sister port agreement between the Port of Subic and the Port of Antwerp-Bruges.

Belgian Ambassador Vladislava Iordanova visited the Freeport on 16 March. She was accompanied by officials from Port of Antwerp-Bruges International, the consultancy and investment arm of the European port.

During the visit, SBMA chairperson and administrator Eduardo Jose L. Aliño proposed the agreement, stating the partnership would strengthen the relationship between the two maritime hubs.

The Port of Antwerp-Bruges is the largest petrochemical cluster in Europe and the second largest in the world. It also serves as Europe’s leading car-handling port, processing more than 3 million vehicles annually.

The port contributes 4.5 percent to Belgium’s gross domestic product, with an annual throughput of more than 370 million tons.

The Subic Bay Freeport already hosts several locators with European equity. Among the largest are Netherlands-based Agila NY Naval Inc. and Agila South Inc., which have a combined investment commitment of $350 million.

Other notable European Union-linked companies in the Freeport include Switzerland’s PMNFTC Inc., with a $7 million commitment; Belarus-based Luxury Subic Home Development Corp., at $1 million; and Germany’s Schenker Philippines Inc., with $900,000 in committed investments.