Markets of the World 2

November 05, 2014

MANILA, PHILIPPINES -  The World Trade Center Metro Manila (WTCMM) successfully concluded the second “Markets of the World” (MOW2) on Tuesday, October 14, 2014. The well-attended MOW 2 provided its attendees with a wealth of information on ASEAN matters, and on doing business in featured countries, namely, India, Indonesia, Vietnam, New Zealand, Turkey, Kingdom of Saudi Arabia and the Philippines. There were vibrant and relevant discussions and sharing of interests among delegates, speakers and resource persons.

Dr. Sergio R. Ortiz-Luis Jr, President and CEO of Philippine Exporters’ Confederation, Inc. (PHILEXPORT), discussed the positive performance of the Philippine export industry. He shared that PHILEXPORT is working closely with the government through the Export Development Council in developing the country’s Export Development Plan in the context of the forthcoming ASEAN Economic Community (AEC).

With heightened interest in the AEC, the ASEAN member countries, Indonesia and Vietnam, together with the ASEAN-FTA partner countries India and New Zealand, discussed their preparations and readiness for the AEC. Indonesia was represented by First Secretary Erna Herlina, Embassy of Indonesia while Commercial Counselor Vu Viet Nga, H.E. Ambassador Lalduhthlana D. Ralte, and Trade Commissioner Hernando Banal II, represented the Embassies of the Socialist Republic of Vietnam, India, and New Zealand, respectively.

For the Philippine government, Director Senen M. Perlada of the Export Marketing Bureau of the Department of Trade and Industry gave an affirmation that the country is likewise ready for the AEC’s start in 2015. He stressed ASEAN’s importance, saying that ASEAN, as a unified area, would be the 7th largest economy in the world with a combined GDP of US$ 2.4 trillion based on 2013 figures. Moreover, Ma. Lourdes Baua, the President of the country’s sole state trading corporation, the Philippine International Trading Corporation (PITC), shared the significant role PITC plays in facilitating international trade for Philippine exporters.
All MOW 2 speakers were one in saying that the strategy is to maximize the benefits made available by FTAs within ASEAN and with ASEAN-partner countries in order to become a mega trading bloc with three billion consumer base and with US$21 trillion combined GDP accounting for 30% of world trade.

Furthermore, MOW 2 also featured the Kingdom of Saudi Arabia (KSA), a culture-based market, and Republic of Turkey, a multi-cultural market. Economic Affairs Attache Naif Mh Alharbi of the Royal Embassy of Saudi Arabia noted the significant bilateral trade between the Philippines and the KSA, giving particular credit to the contribution of the Filipino work force to the Kingdom’s economy. The Turkish Chamber of Commerce of the Philippines President, Mr. Irfan Karabulut, spoke about the benefits of participating in the “World Trade Bridge 2014” and the countless opportunities Turkey could offer Philippine business.

Markets of the World 2 was sponsored by the Philippine Daily Inquirer, Philippine Retirement Authority and Tjioe, the Caterer. MOW is a regular trade education program conducted by the WTCMM that features different major and fast-emerging economies in each of its seminar series.

To contact the WTCMM about its calendar of exhibitions, trade activities and details on how to reserve the function rooms and exhibition halls, please email wtcclub@wtcmanila.com.

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