MANILA, Philippines — A trade mission composed of 250 companies and the largest ever from Canada, is set to visit the country in December to explore business opportunities.
This trade mission will coincide with the launch of the representation of Export Development Canada (EDC) in the country.
EDC helps Canadian businesses grow through export, by providing financial solutions, export knowledge and connections needed to confidently enter new markets, while reducing financial risk.
George Monize, managing director and head of Indo-Pacific at EDC told reporters that the Team Canada trade mission will be in the country at the start of December, and take place along with the opening of EDC’s representation in Manila.
Chia Wan Liew, EDC counsellor and chief representative for the Philippines said the mission, composed of 450 delegates from around 250 companies, will be in the country from Dec. 5 to 6.
“This is the biggest ever among the trade missions so far,” he said.
The trade mission will focus on the following priority sectors: agriculture and processed food; clean tech, clean energy and green mining; information communications technology and infrastructure.
Monize said the trade mission is being conducted “to introduce these companies to some of the players, to the environment, so that they can get a sense as to what the opportunity looks like, even what challenges may exist, and really have a first-hand view to incorporate into their decision-making process, as to whether or not this is a market they want to enter in the future.”
He said the trade mission to the Philippines is part of Canada’s move to diversify its market, with bulk or around 80 percent of its trade accounted for by the US.
In Asia, he said Canada’s trade has generally been with China, which at times can be a challenging market.
He said Canadian companies are encouraged to explore other markets with diversification seen as “a good business and good practice in general.”
He also said the positive gross domestic product growth and rising middle class in the Philippines make the country attractive to businesses.
“With that comes the need for higher quality goods,” he said.
Liew said the Philippines’ ongoing need for infrastructure improvements across a range of industries like energy sufficiency and food security offer opportunities for medium-sized Canadian exporters.
He said Canada has deep experience in engineering, transit and construction, renewable energy and high quality agri-food products.
Bilateral trade between the Philippines and Canada was at 3.4 billion Canadian dollars last year.
Canada’s exports to the Philippines, which have grown by 71 percent from 2019 to 2023, are focused on agri-food products like beef, poultry and cereals, as well forestry products and fertilizers.