Archive for the ‘Philippines’ Category

International Trade, News, Philippines

October 28, 2024

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce its target of a 5% increase in exports for the upcoming year, driven by proactive inventory corrections and a surge in new investments.   SEIPI President Danilo C. Lachica shared this optimistic outlook during the 13th Arangkada Philippines Forum 2024, […]

The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is excited to announce an anticipated 5% growth in semiconductor exports for 2025. This positive projection comes despite current challenges, highlighting the resilience of the sector and its critical role in global trade. SEIPI President Danilo C. Lachica shared insights during the 13th Arangkada […]

Agricultural Trade, News, Philippines

October 14, 2024

The United States Department of Agriculture (USDA) has announced a positive adjustment to its forecast for Philippine rice imports, raising the estimate to 4.9 million metric tons for 2025. This increase of 300,000 metric tons from the September estimate highlights the resilience of the Philippine agricultural sector in adapting to changing market conditions and ensuring […]

The anticipated free trade agreement (FTA) between the Philippines and South Korea is expected to provide a moderate increase in textile exports from the Philippines. According to Robert Young, President of the Foreign Buyers Association of the Philippines (Fobap), the country exported approximately $50 million worth of mixed apparel to South Korea in 2023.   […]

The Philippines is optimistic about rejuvenating its banana export sector with the recent free trade agreement established with South Korea. The Department of Trade and Industry has highlighted the potential of this agreement to address the declining market share of Philippine bananas in South Korea, where they face stiff competition from Vietnam and other Latin […]

The Philippines is rapidly emerging as a powerhouse in the fintech sector, driven by a synergy of government initiatives and private sector innovations. With the country’s digitalization efforts accelerating, fintech adoption is poised to reach 72% of the population by 2024. This burgeoning growth is highlighted by the impressive $344 million in funding raised in […]

News, Philippines, South Korea

September 7, 2023

The International Trade Council is pleased to recognize the signing of a free trade agreement (FTA) between the Philippines and South Korea during the ASEAN Summit in Indonesia. President Ferdinand Marcos Jr. announced this significant development, emphasizing its potential to strengthen investment relations and create employment opportunities.   President Marcos highlighted that the FTA underscores […]

United Kingdom Considers Establishing Joint Trade and Economic Committee with the Philippines The International Trade Council reports that the United Kingdom (UK) and the Philippines are in discussions regarding the potential formation of a Joint Trade and Economic Committee (JETCO). The aim of the JETCO would be to strengthen economic connections between the two nations. […]

The International Trade Council warmly welcomes the announcement by the EU and the Philippines about their commitment to delve into the potential relaunch of negotiations for a holistic, contemporary, and balanced Free Trade Agreement (FTA), underpinned by sustainability. Both entities will soon initiate a bilateral ‘scoping process’ to gauge the mutual understanding they share concerning […]

In a move aimed at bolstering foreign direct investments (FDI), the Philippines officially launched its “green lanes” for significant strategic investments. The initiative, intended to attract capital inflow into the country, will streamline the process for obtaining necessary documents to establish businesses within the nation, according to the Department of Trade and Industry (DTI).   […]