MANILA, PHILIPPINES - The World Trade Centers Association (WTCA) capped its General Assembly (GA) in Manila with a successful gathering that marked the roadmap for international trade and diplomatic cooperation in the country. Proudly hosted by World Trade Center Metro Manila (WTCMM) in the Philippines, the 46th WTCA GA entitled, “Better Together through Global Unity and Cooperation,” which ran from April 26-29, 2015 became the doorway for high-powered WTC delegates, international business leaders , economists, trade experts, and policymakers looking to connect globally through trade and investment opportunities.
During the three-day conference, the country’s brisk growth and competitive advantages were highlighted during the following segments: (1) a Philippine Economic Briefing presented by the Investors Relations Office of Bangko Sentral Ng Pilipinas; (2) a Panel Discussion with members of the economic team, and ;(3) a segment on Doing Business in the Philippines.” Consequently, relationships were developed and established among WTC delegates and local business leaders through a myriad of dynamic networking forums, business matching and plenary sessions.
WTCMM Chairman and CEO Guillermo D. Luchangco said in his welcome speech to over 300 delegates representing 92 countries, “Over the last three years, the Philippines has been the second-fastest growing among economies in Asia next to China. Economists project that this trajectory will hold in the years to come.”
Other government officials also flaunted the country’s economic performance at the annual WTCA GA as cited by Francisco Dakila Jr., director for the Center for Monetary & Financial Policy of the Bangko Sentral ng Pilipinas,“The Philippines is not immune to external risks, but it has homegrown pillars of strength, such as the positive alignment between growth and inflation,” Dakila further added that, “ Gross domestic product (GDP) growth last year was recorded at 6.1 percent. The Philippine economy is enjoying a unique combination of robust growth and within-target inflation.”
During the open forum, Philippine Economic Zone Authority Director General Lilia De Lima invited exporters to locate in any of the country’s 316 economic zones that offer fiscal and non-fiscal incentives to locators.
De Lima noted that the Philippines is covered by the “Generalised Scheme of Preferences Plus (GSP+)” with the European Union. As such, about 6,000 items produced from the Philippines get preferential treatment from the EU.
ASEAN, where the Philippines is a member, targets to formally start the process of economic integration toward the end of this year.
Aside from providing an outlook on the economy, how to do business in the Philippines, which covered topics on taxation and business registration, were also discussed during the opening ceremony. The opening day of the GA concluded with the announcement of the new-elected WTCA board directors composed of representatives from WTCs belonging to regional blocks, such as EMEA ( Europe Middle East Africa), Americas ( US and Canada), and APAC ( Asia Pacific).
The succeeding days of the Assembly presented interactive sessions to promote and strengthen cross-continental connections among the foreign delegates representing 92 countries and continents. The WTC Innovation Exchange portion featured transferable solutions that enabled select WTC’s to share their successful programs. Also featured was a keynote speech from Steven Beck, Asian Development Bank Head of Trade Finance; and capped by the evening Gala, highlighted by the symbolic passing of the baton to Algeria, the host of the 47th General Assembly of the WTCA in 2016.
Other social events included in the program were the Welcome Reception, Happy Hour and tours to Intramuros,Tagaytay and a free evening in Bonifacio Global City.
In closing, WTCA Executive Vice President , Bella Heule, thanked WTCMM for the over-whelming success of the 2015 General Assembly.
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