Philippines as “Asia’s Rising Star” Showcased in Back-to-Back British Business Fora

The Philippines’ economic success was showcased anew in the United Kingdom (UK) at back-to-back events of the Philippine Trade and Investment Centre (PTIC) – London involving top British businesses and organizations.

Leading the Philippine campaign at the PTIC activities were visiting Philippine Economic Zone Authority (PEZA) Director General Dr. Lilia B. De Lima and Philippine Ambassador to the Court of St. James Enrique A. Manalo. Dr. De Lima gave an extended presentation on the comprehensive advantages of investing in Philippine economic zones and on the numerous international awards, citations and success stories of her PEZA office, including those of over 100 British firms already established in the zones. Ambassador Manalo for his part briefed the British businessmen on the Philippines’ economic resurgence and bright business outlook as well as on the unprecedented levels of Philippine-UK cooperation and partnerships.

Dr. De Lima and Ambassador Manalo first featured the Philippines at the “Shared Services and Outsourcing Opportunities” forum held on November 06 at the London headquarters of Ernst & Young (EY), one of the world’s leading professional services firms. The spectacular rise of the Philippine Information Technology-Business Process Management (IT-BPM) sector into a $26 billion, 1.3 million employee industry was presented as a snapshot of even larger trade and business opportunities in the country. Several international companies provided testimonials at the event as to the Philippines’ significant strengths in IT-BPM, and all spoke positively on the prospects for their continued growth and success.

On November 07, the Philippine officials traveled to Manchester to speak at the “Spotlight on the Philippines” event organized by UK Trade & Investment (UKTI), the British government department responsible for international trade and investment, UK exports, and inward investment. The forum was held at the Manchester offices of banking giant HSBC, and over 30 companies and organizations took part in the forum and expressed interest in doing business in and with the Philippines.

Per UKTI data, total two-way trade in goods and services in 2012 between the Philippines and the UK stood at £1.23 billion. For 2013, UK exports of goods to the Philippines were £374 million and UK imports of goods were £383 million.

Ambassador Manalo summed up the positive outcome of the Philippine promotion events thus, “the rise of the Philippines will go hand in hand with a UK recovery and the continued expansion of Philippine-British business relations.”

Source: www.dfa.gov.ph

Image Credit: investphilippines.org