Australia, New Zealand unveil prospects for Phl

CEBU, Philippines - Fluency in English language, friendliness and hardwork serve as the assets of the Filipinos that attract more global investors and foreign trade commissioners in coordinating with Philippines in doing business.

Attended by over 100 Cebu-based exporters and brokers, trade commissioners from Australia and New Zealand introduced information campaign entitled “Doing Business in Free Trade Areas” recently at Cebu Parklane International Hotel.

Hernando Banal, Senior Trade Commissioner of New Zealand Enterprise said that the convention aims to educate Cebuano businessmen with the advantages of Australia-ASEAN-New Zealand Free Trade Areas and make them aware that these countries are prospective markets of export and import.

Tariff reduction, assistance in the movement of natural people such as VISA requirements, security investments and monetary transfers, and protection of intellectual property can help the businessmen if they engage with AANZFTA.

He added that that they consider business process outsourcing, information and communications technology, furniture industry, food and beverages, tropical fruits, dried mangoes and dried bananas, fashion accessories as the niche of the country which are viable products for exports to New Zealand.

Banal noted that aside from being part of the ASEAN which is the growth engine of the global economy, Philippines is an English-speaking country which makes it easier for Filipinos to communicate with people from different parts of the world, easier market to penetrate in, a huge population of 100 million Filipinos and doesn’t require halal-certified products.

However, he admitted that it is a major challenge for them to venture in Philippines since the awareness of New Zealand about the country is very low, both countries have likely different historical relationship and their perception that Philippines is too far to travel.

Amidst such challenges, FTA trade commissioners are more determined to advertise the Filipino country as a worthwhile destination for business and investment with a lot of economic-related opportunities. They also expect transparency, efficiency and ease of doing business with the bureaucracy and the Philippine government.

Meanwhile, Austrade Senior Trade Commissioner and Australian Minister Counselor Anthony Weymouth looks forward to a strong relationship between Australia and Philippines through AANZFTA.

“Filipinos have a fantastic English tongue. They are genuine and friendly people who are willing to cooperate. It will help strengthen the trade relationship with the two countries and increase trade and industry,” he said.

Aside from furniture, giftware and electronic components as viable products to be exported in Australia, Weymouth added that the biggest and largest export they consider in the Philippines is the services they offer particularly the BPO sector in which skilled Filipino workers do on behalf of Australian citizens.

AANZFTA is a comprehensive and single-undertaking economic agreement that opens up and creates new opportunities for the 600 million peoples of ASEAN, Australia and New Zealand which have a combined economic output of USD 2.65 trillion via a platform of a more liberal, facilitative and transparent market access and investment regimes among the signatories to the Agreement.

Through the AANZFTA, tariffs will be progressively reduced from entry into force of the Agreement, and eliminated for at least 90 percent of all tariff lines within specified timelines, movement of goods will be facilitated via a more modern and flexible rules of origin, simplified customs procedures and more transparent mechanism, barriers to trade in services will be progressively liberalized allowing for greater market access to service suppliers in the region, movement of business persons, those engaged in trade and investment activities, will be facilitated and covered investments will be accorded a range of protection, including the possibility of dealing with disputes via an investor-state dispute settlement mechanism. (FREEMAN)