Phl to send biz mission to Turkey

Manila, Philippines - The Philippines is planning a business mission to Turkey this year to explore opportunities to expand trade.

The Trade and Industry department said the government is preparing for a business mission to Turkey from October 1 to 8 to look at opportunities to increase trade between the two countries.

The department through the Bureau of Export Trade Promotion (BETP) recently organized a business forum in preparation in the business mission to Ankara and Istanbul.

Trade and Industry undersecretary Cristino Panlilio said the Philippines still has a lot to do to expand trade relations with Turkey.

“As far as Philippine exporters are concerned, here is a new and emerging market that we should tap. We can export a lot of our agricultural products, furniture, housewares, Christmas decors, handicrafts, car components and parts,” he said.

Turkey is the Philippines’ 42nd trading partner.

From 2007 to 2011, total trade between the two countries has been increasing by 7.8 percent.

Philippine exports to Turkey have also been rising from 2009 to 2011 with shipments amounting to $33.9 million in 2009 and reaching $61.88 million in 2010.

In 2011, Philippine exports to Turkey climbed further to $66.37 million.

For his part, Jason Lao, BETP’s product research and strategy group head, said that Turkey could be the next bright spot in Europe for economic bilateral relations.

“As other economies in Europe are crunching... the financial regime in Turkey continues to expand. The promise of wider entry of our agricultural products, industrial manufactures, construction and new services are quite obvious,” he said.

He also said that as capital markets are very volatile and big trading economies are not performing, looking for opportunities other than those available in traditional markets becomes even more important.