Philippines to kick off Saudi business-matching mission next month

MANILA: Philippine authorities are preparing a business-matching mission to Saudi Arabia, which will begin in Riyadh next month as the Southeast Asian nation tries to deepen trade engagements with the Kingdom.

Organized by the Philippine Department of Trade and Industry, the activities will cover Riyadh, Jeddah and Dammam from Feb. 10-14.

Its main aim is to introduce Philippine producers abroad, especially among buyers, importers and retailers in Gulf Cooperation Council countries.

“The mission seeks to create greater opportunities for Philippine brands and products to expand their geographical reach in the GCC region, covering the larger and more segmented markets of the region,” DTI Commercial Attache Charmaine Yalong told Arab News on Friday.

“The delegation is composed of food, beverage and personal care exporters.”

It will be the first time that Philippine officials will arrive in the Kingdom with a business-matching mission since the COVID-19 pandemic.

As imports from Saudi Arabia have significantly increased in the past three years, Philippine officials want exports to rise too and expect more trade engagements following President Ferdinand Marcos Jr.’s visit to Riyadh in October, during which a $4.26 billion investment agreement was signed with Saudi business leaders.

Rommel Romato, charge d’affaires of the Philippine Embassy in Riyadh, told Arab News that Marcos was likely to pay another state visit to the Kingdom this year, as the two countries will celebrate the emerald anniversary of their ties.

“Hopefully the state visit will happen because it’s very timely and we can see the expansion of our bilateral relations,” he said.

“I think this is very good for our bilateral relations this year. We have in mind several activities, including the Saudi Travel Market, because this year we are celebrating 55 years of diplomatic relations between the Kingdom and the Republic of the Philippines.”