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Archive for the ‘Philippines’ Category

Electronics Industry Sets Ambitious Goal for 5% Export Growth in 2025

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, […]

Philippines Semiconductor Exports Set for 5% Growth in 2025, Signaling Trade Opportunities

Economic Development, News, Philippines

October 25, 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 […]

Philippines Rice Import Forecast Increased to 4.9 Million Metric Tons in 2025

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 […]

Free Trade Agreement with South Korea Set to Boost Philippine Textile Exports

Free Trade Agreements, News, Philippines, South Korea

October 10, 2024

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.   […]

Philippines Aims to Revitalize Banana Exports to South Korea Through New Free Trade Agreement

International Trade and Export, Philippines

October 9, 2024

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 […]

World Financial Innovation Series Philippines: Catalyzing the Future of Fintech

Financial Innovation, News, Philippines

June 24, 2024

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 […]

Germany’s Support Crucial for PH-EU Free Trade Talks

E-commerce Development, Europe, News, Philippines

March 12, 2024

President Ferdinand ”Bongbong” Marcos Jr. highlighted the pivotal role of Germany’s support as negotiations for a free trade agreement between the Philippines and the European Union prepare to resume.   ”Germany’s support is vital to the country’s reapplication to the EU’s Generalised Scheme of Preferences Plus (GSP+) and for the resumption of negotiations for a […]

Proposal for Free Trade Agreement Between Philippines and United Kingdom

News, Philippines, Trade Agreements, United Kingdom

February 20, 2024

In a recent development, Finance Secretary Ralph G. Recto has put forward the idea of exploring the potential for the Philippines to establish a free trade agreement with the United Kingdom (UK).   This proposition emerged during Recto’s meeting with UK Prime Minister’s Trade Envoy to the Philippines Richard Graham and UK Ambassador to the […]

Positive Outlook for UK-Philippines Trade Growth

International Trade, News, Philippines, United Kingdom

February 12, 2024

Recent reports reveal an encouraging trend in UK-Philippines bilateral trade, with total trade in goods and services hitting a record high of £3.0 billion. Chris Nelson, the Executive Director/Trustee of the British Chamber of Commerce Philippines (BCCP), expressed optimism regarding the ongoing positive trajectory of trade between the two nations.   In a recent interview, […]

The Philippines and Vietnam Strengthen Trade Ties with 5-Year Rice Agreement

Agricultural Trade, News, Philippines, Vietnam

January 30, 2024

In a significant move to bolster their trade relations, the Philippines and Vietnam have signed a Memorandum of Understanding (MOU) on Rice Trade Cooperation. This agreement, among several others, was forged on Tuesday, Jan. 30, during bilateral discussions between the two nations.   The MOU on Rice Trade Cooperation establishes a framework for rice cooperation […]

Philippines and Canada Forge Stronger Defense Ties with Memorandum of Understanding

Canada, International Relations, News, Philippines

January 29, 2024

In a significant step towards bolstering their defense cooperation, the Philippines and Canada formally signed a memorandum of understanding on Friday, with Manila’s defense minister expressing optimism that this agreement could pave the way for a troop pact between the two nations.   Defense Secretary Gilberto Teodoro highlighted the strong intention on both sides to […]

Guatemala Emerges as Potential Global Banana Export Leader, Surpassing the Philippines

Agricultural Trade, News, Philippines

January 23, 2024

  In a potential shake-up of global banana export rankings, preliminary findings from the United Nations’ Food and Agriculture Organization (FAO) indicate that Guatemala may have overtaken the Philippines in 2023. The Philippines, holding the second position for six consecutive years, faces a possible dip in its standing.   According to early data from the […]

Philippines and Korea Set to Deepen Ties Following Free Trade Agreement

News, Philippines, Trade Agreements

January 13, 2024

In a forward-looking approach, the Philippines is actively pursuing a strategic partnership with Korea this year, building on the historic Philippines-Korea Free Trade Agreement (FTA) signed last year. With the 75th anniversary of diplomatic relations approaching, both nations are keen on elevating collaboration in various sectors, according to the Philippine Ambassador to Korea, Maria Theresa […]

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