assured Vietnamese business community that the Philippines will expand
its trade relations with Vietnam.
In the recent Philippines-Vietnam Business Forum, Domingo highlighted
two countries' bilateral trade relations and hoped for more mutually
beneficial partnerships to be formed by them.
Secretary Domingo noted Vietnam as the Philippines' 12th largest
trading partner, with total bilateral trade amounting to US$ 2.17
billion in 2010.
"We are optimistic that with your commitment, we will achieve more
trade between our countries in the years to come," he said.
The Philippines' top exports to Vietnam include mineral and chemical
fertilizers, cathodes and sections of cathodes, chewing gum, diodes,
paper, wiring harness for motor vehicles, gas oil and fuel, banana
chips, and crackers, while major imports include semi-milled rice,
assembled printed circuits, single yarn, Arabica coffee, machinery
parts, silica sands and quartz sands.
Secretary Domingo also cited the country's role to Vietnamese economy.
The Philippines ranked 25th in Vietnam's largest trade partners, with
55 Philippine companies and investments worth US$ 5 million.
To boost bilateral trade between the Philippines and Vietnam,
Secretary Domingo said the DTI will facilitate and coordinate inbound
and outbound trade missions between the two countries to create
awareness on Philippine and Vietnam's product.
He also said the Philippines will also participate in trade fairs and
exhibitions to create networks.
The DTI will also reactivate the Philippine-Vietnam Business Council
to update businessmen on market developments and tap existing
potentials in the market.
The Philippines will likewise cooperate in the exchange of experience
in management and support for businesses, particularly the small and
medium enterprises.
No comments:
Post a Comment