President Ferdinand Marcos Jr. sought to market the Philippines as a trade hub when he met with World Trade Organization (WTO) and Canadian officials separately in Malacañang yesterday.
The President on Wednesday welcomed WTO Director-General Dr. Ngozi Okonjo-Iweala with whom he discussed the “big plans” of the Philippines to enhance trade and commerce with its 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 conferences like Davos where we interacted with other leaders and other countries is that it really requires a transformation. But trade has become more important than ever,” he told Iweala.
For her part, 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 your economy. And you are not doing badly at all,” she said.
“Six percent per annum growth 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.
Canada, too
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 to make us more business friendly, investment friendly. And that’s why 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 interest in conducting business in the country.
“What that speaks to, 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 are 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 which is being held in Manila from 4 to 6 December.
More than 300 delegates representing 180 companies are gathered in TCTM Philippines. They are expected to gather significant investments, forge new partnerships and business initiatives as well as create job opportunities for Filipinos.