Philippines, India renew trade and investments ties


The Philippines recently held discussions with India to forge closer cooperation and strengthen the two countries’ trade and investment relations.

At the 12th Meeting of the Joint Working Group on Trade and Investments (JWGTI) held in New Delhi, India, Philippine Board of Investments (BOI) Governor Lucita P. Reyes discussed areas of cooperation including bilateral cooperation initiatives and issues involving trade, investments, and improved market access for both countries.

Reyes led an 11-strong delegation from Manila that included representatives from the Philippine International Trading Corporation (PTIC), variousgovernment agencies such as the Department of Trade and Industry (DTI),and the Philippine Embassy in New Delhi. Meanwhile, Mr. Ravi Capoor, Joint Secretary of the Department of Commerce of India led a twenty-member delegation of officials representing different officers of the Ministry of Commerce and Industry.

The meeting identified areas of cooperation in coconut(production, processing and commercialization), rice, customs, Science and Technology, Information Communication Technology (ICT), pharmaceuticals, micro, small, and medium enterprises (MSME) development, and higher education. Both countries also pledged to jointly develop a mechanism for sharing statistical data and to fast-track the development, signing, and implementation ofpending Memoranda of Understanding between the Philippines and India.

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Studies on moving up the global value chains of five industries to be presented in public forum


Global value chain (GVC) studies on the aerospace, automotive and auto parts, chemicals, electronics and electrical machinery, and paper industries will be presented to various stakeholders through a public forum on June 2, 2016 at the Makati Diamond Residences.

GVCs consist of the process of producing goods from raw materials to finished products, wherever in the world the necessary skills and materials are available at competitive cost and quality. For example, Macbooks, iPhones and iPads are designed in the United States, but are assembled in China, with some parts coming from Japan, Germany, France, and Korea, among others.

Conducted by the Duke University Center on Globalization, Governance, & Competitiveness (Duke CGGC), the five studies were commissioned under the Science, Technology, Research, and Innovation for Development (STRIDE) Program and the Advancing Philippine Competitiveness (COMPETE) Project of the United States Agency for International Development (USAID) for the Philippine Board of Invetments (BOI), the industry development and investments promotion arm of the Department of Trade & Industry (DTI). The GVC studies are intended to assist the BOI in its efforts to further develop its framework and strategies in promoting industries built on best practices.

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Buoyed by April 2016 investments: BOI-approved investments up 64% in first four mos of 2016, to generate 16,366 jobs


Buoyed up by the remarkable investments approved in April 2016, investments approved by the Philippine Board of Investments (BOI) in the first four months of the year reached P117.26 billion, up by 64 percent compared to the P71.62 billion posted in the same period last year. These were generated from 101 projects and are expected to create 16,366 additional jobs, once fully operational.

For the month of April alone, a total of P55.33 billion was generated, which recorded a remarkable 225 percent increase compared to the P17 billion generated for the same month in 2015.

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Among the big ticket projects approved in April include GMR Megawide Cebu Airport Corporation (with Php16.75 Billion), a PPP project for the Cebu International Airport Project (Phase 2 – operation and maintenance of Terminal 2); Light Rail Manila Corporation (LRMC) (Php15.15 Billion), modernization of the existing system – operations and maintenance of Manila LRT 1 Integrated Railway System Project; and Cordillera Hydro Electric Power Corporation (Php12.18 Billion), renewable energy developer of 60MW Kapangan Hydroelectric Project in Benguet.

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PH explores joint venture with India’s Field Fresh, Inc.

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The Philippines, through the Embassy of the Philippines New Delhi Commercial Counsellor Michael Alfred Ignacio met with India’s Field Fresh, Inc. to discuss positive developments involving India-Philippines relations and the ASEAN-India Free Trade Agreement. Field Fresh Inc., is a joint-venture between Del Monte Philippines, Inc. and Bharti, an Indian conglomerate which serves a 1.2 billion market in India aside from those in South Asia and South East Asia. In photo (from left to right): Commercial Counsellor Michael Alfred Ignacio, Field Fresh Inc’s CEO Yogesh Billani and Vice President Sandeep Tewari.

DTI urges exporters to seek new markets, embark on innovation


The latest statistics from the Philippine Statistics Authority covering the first three months of the year continues to confirm the decline of Philippine exports. The downtrend is not, however, unique to the Philippine situation as the trend is also affecting both the strongest economies in the world and the emerging “sunshine” states in high-growth regions such as Asia.

During the first three months of the year, Philippine exports reached US$13.11 billion, an 8.4-percent slide from the $14.3 billion reported during the same period last year, dragged down by the collective decline of the Philippines’ top export markets during the period.

Germany, one of the biggest economies in Europe and the fifth top-export destination of Philippine export goods, suffered the biggest decline of 17.7 percent while Japan, the top destination of Philippine exports, contracted by 3 percent. Shipments to the combined markets of China and Hong Kong SAR went down slightly by 5.6 percent while the third biggest market, the US, decreased by 8.3 percent.

Also, even if Philippine exports continued their downtrend during the past 12 months, the country remains a strong magnet for foreign investments. Foreign direct investments during the past 12 months went up by 51 percent to $936 million, among the bright investment spots in Asia and the Pacific, during the month of February.

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