Philippine Trade & Investment Center-Kuala Lumpur (PTIC) Commercial Counsellor Glenn Peñaranda shared the positive Philippine business growth and expanding business opportunities with the Malaysia-based Filipino Business and Professional Caucus (FBPC). Representatives from the Mindanao Development Authority (MinDA) were also given the opportunity to present progress and prospects in Mindanao. With PTIC-KL and MinDA were Philippine Ambassador to Malaysia Jose Eduardo Malaya, Consul Johann Andal and Philippine Labor Attache’ for Malaysia, Elizabeth Estrada.
Commercial Counsellor Peñaranda underlined the message that the country is inviting overseas Filipinos to participate in the growing Philippine economy. He also recognized that Malaysia is a strategic partner in ASEAN particularly because of its interest in economic development in Mindanao.
In 2013, Malaysia was the Philippines’ 10th trading partner out of 216 countries with total bilateral trade reaching US$3.58 billion. It was also the country’s 11th export market out of 210 countries. Currently, the Philippines is promoting the following exports to Malaysia: fresh, processed and halal food; cosmetics; auto parts; electronics and electronics manufacturing services; information technology and business process management services. The Philippines is also reaching out to Malaysian investors for stronger partnerships on key industries such as agribusiness; tourism facilities; infrastructure, construction and public-private partnership projects.
The creation of the FPBC only in June this year was an initiative of the Philippine Embassy in Kuala Lumpur. It aims to raise awareness of Filipino talent and skills and works towards enhancing business practices in Malaysia. FPBC collaborates with the Malaysia-Philippines Business Council in fostering deeper business engagement between the two countries.