The delegation, which will be in Manila from December 4 to 6, consists of 300 business leaders from 180 organizations representing 17 business sectors

MANILA, Philippines – Canada It is sending its largest trade delegation to the Philippines in hopes of securing opportunities in a more investor-friendly Manila.

The “powerhouse delegation,” which arrived in Manila on Dec. 4 and will stay until the 6th, consists of 300 business leaders from 180 organizations representing 17 business sectors, as well as leaders from the province and its territories, including Alberta Minister of Economic Affairs and Utilities Matt. Jones. The Team Canada Trade Mission (TCTM) will be led by Mary Ng, Canada’s minister of export promotion, international trade and economic development.

The Canadian embassy in the Philippines said more businesses are looking to Manila to establish their own business headquarters.

“Companies want to establish (and) use the Philippines as a hub to serve other countries in the region,” Guy Boileau, commercial advisor and senior trade commissioner at the Canadian embassy, ​​said Thursday, November. 21.

“We specifically identified priority sectors to align with the goals and strategies of the Marcos administration,” he added.

Representatives of businesses in the fields of agriculture and food security, clean technology, infrastructure and information and communications technology. However, Canadian companies in the fields of defence, aviation and education will also be present during the trade delegation.

The purpose of the visit is to facilitate business matchmaking between Canadian and Filipino businesses and allow Canadian business leaders to gain insight into the terrain.

The majority, or 60%, of visiting business leaders are small and medium-sized businesses, while the remainder represent “large Canadian companies.”

“This is really important because we know the importance the Philippines places on supporting and growing MSMEs and SMEs, and we have the same goals,” Boileau said. “I think there is a lot we can do between our two countries to support and improve cooperation between our SMEs.”

Approximately 100 Filipino companies from all over the archipelago will meet with TCTM.

The embassy noted the country’s growing investment-friendly environment, which has attracted interest from Canadian-based businesses seeking a “stable and predictable business environment.”

For example, the recently signed Republic Act 12066 or the Corporate Improvement and Tax Incentives for Corporations to Maximize Opportunities to Revitalize the Economy Act called “CREATE MORE” which clarifies tax rules and provides tax incentives to registered business enterprises.

Trade mission is part of Canada’s overall mission Indo-Pacific strategysuppressed talks that it would expand its trade in the coming period Trump’s second presidency.

“Focused trade in the Indo-Pacific will certainly help Canada balance against any disruptions in the international system,” said Andrew Green, political and public affairs advisor at the Canadian embassy.

Before TCTM sets foot in Manila, the delegation will be in Indonesia. The embassy also noted that the TCTM delegation to the Philippines was larger than the delegations it brought to South Korea and Japan.

In February 2024, Canada opened the Indo-Pacific Agriculture and Agri-Food Office in Manila. A month ago, Canadian Minister of International Development Ahmed Hussen visited Manila to announce CAD 15 million in aid to the Philippines over six years.

Canada is keen to engage with the Philippines, including through defense ties.

Canada opened its Dark Ship Detection System to the Philippines in late 2023. Negotiations are also ongoing for the Status of Visiting Forces Agreement (SOVFA), which would allow Canadian troops to regularly visit the Philippines for military exercises and vice versa. Green also told reporters that discussions were ongoing to improve ties, whether through a strategic or comprehensive partnership. However, SOVFA negotiations will take priority.

Canada has a major stake in the maritime security of the region, including areas in the West Philippine Sea. The waterway is an important trade route for many countries, including Canada. It is estimated that one-third of global trade passes through the South China Sea. – Rappler.com