https://arab.news/ntf2q
- Philippine trade delegation will continue their GCC trip to UAE
- Mission follows President Marcos’ trip to Kingdom last October
MANILA: The Philippines promoted its export products in Saudi Arabia this week in the first business-matching mission to the Kingdom since the COVID-19 pandemic.
The Philippine delegation, organized by the Department of Trade and Industry and comprising food, beverage and personal care exporters, began their activities in Riyadh over the weekend and concluded their activities in Dammam on Wednesday, after which they will visit the UAE.
“The primary objective of the (mission) is to create greater opportunities for Philippine brands and products to expand their geographical reach in the GCC region,” Rommel Romato, charge d’affaires of the Philippine Embassy in Riyadh, told Arab News.
“The mission is a positive step towards increasing the global mindshare of Philippine brands through expansion and diversification of the country’s exports and their destinations.”
During its visit, the delegation met with the Chamber of Commerce and Industry in Riyadh, Jeddah and Dammam, as well as various Saudi companies.
Philippine officials are seeking to boost trade relations further following the rise of Philippine-Saudi trade volume from 2022 to 2023, which Romato said reflected “the complementarity of the two economies and the potential for further diversification.”
The Philippines is promoting one of its top exports, tropical fruits, in Saudi Arabia, as it hopes to tap into the Kingdom’s demand for the product.
“There is a huge demand for tropical fruits here in Saudi Arabia and these have the potential for more trade growth … Bananas could be a lucrative product for the Philippines to increase its market share in Saudi Arabia among other produce such as cacao, pineapples and mangoes,” Romato said.
The business-matching mission follows President Ferdinand Marcos Jr.’s visit to Riyadh in October, during which a $4.26 billion investment agreement was signed with Saudi business leaders.
Lionheart Farms, which produces coconut sap-based products and is part of the trade delegation, is optimistic about the outcome of the visit to the Kingdom.
“Saudi Arabia is opening up to the world and it is a fantastic privilege to present our organic, sustainable products to the KSA market,” Christian Eyde Moeller, president and CEO of Lionheart Farms, said in a statement.
“This mission will pave the way for further growth and success for Lionheart Farms and other Filipino brands in the region.”