MANILA,
Philippines — With the reinvigorated
global and regional position of the ASEAN as a trading bloc, Philippine trade
and investment positioning with Australia and New Zealand has become more
significant.
“I know
it took some time to organize and realize this business forum, but the actual
holding of this event today happens at the most opportune time,” Trade and
Investment Promotion Undersecretary Cristino L. Panlilio said in his keynote
message during the 1st Philippines Australia New Zealand Business Forum.
The
forum intends to identify trade and investment opportunities between the Philippines,
Australia, New Zealand and the ASEAN region in sectors such as business process
outsourcing, agribusiness, information and communication technology (ICT),
energy, and infrastructure. It also aims to enhance business relationships of
stakeholders, and address vital issues related to economic integration in the
Asia Pacific Region and elimination of trade barriers.
The
event was attended by government officials and delegates of the Philippines,
Australia and New Zealand, and decisionmakers of big corporations.
“The
Philippines Australia New Zealand Business Forum comes at a time of growing and
even closer trade and investment relations between the Philippines and
Australia and new Zealand,” explained Panlilio.
He
added that total bilateral trade in Australia and New Zealand has been stable
through the years. The Philippines does business exporting of processed food,
agricultural products, auto parts and accessories, minerals and services, among
others.
On the
investment side, Australia and New Zealand companies are involved in business
process outsourcing, information technology, homestyle, infrastructure, and
mining.
Panlilio
also noted that “the timing of this forum is opportune as we are now in the
midst of implementing the ASEAN –Australia- New Zealand Free Trade Agreement
(ANZFTA), with tariff reduction starting last January 1, 2010.”
The
AANFTA is a comprehensive single undertaking free trade agreement covering
trade in goods, services, investment, natural persons’ movement, electronic
commerce, intellectual property, competition and economic cooperation. Business
profits from the easing of tariff and nontariff barriers to ensure better flow
of goods, services, and factors of production between the countries.
BERNIE
CAHILES-MAGKILAT
mb.com.ph
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