BC opens trade office in the Philippines

British Columbia has opened a trade office in the Philippines, citing that the fast economic growth of the Southeast Asian nation made it a good choice for their ASEAN transactions.

“We are positioning [British Columbia] to capitalize on the many opportunities in the Philippines, which has one of the fastest-growing economies in the world,” the province’s Premier Christy Clark was quoted as saying in a release sent to journalists.

The Trade and Investment Office, situated in Makati City, is part of British Columbia’s efforts to reinforce the Plan of Action to implement the Joint Declaration on ASEAN-Canada Enhanced Partnership that lasts from 2016 until 2020.

“The strategy calls for businesses in British Columbia to diversify their markets through trans-Pacific trade, with the government of British Columbia committing to deliver new, streamlined services to help businesses build relations in Asia, especially Southeast Asia,” the statement read, emphasizing that five of the world’s 20 fastest-growing economies could be found in the region — the Philippines, Indonesia, Malaysia, Thailand, and Singapore.

At a media briefing held after the office’s ribbon cutting ceremony, Clark told local media that the Philippines was picked over other ASEAN nations because it was a “natural fit.”

“The thing for me is that Manila and the Philippines feel very familiar because there’s so many people of Filipino descent where I live. And I think the strength of the human relationship that we have between us would mean the trade grows very quickly,” she told reporters.

Trade between British Columbia and the Philippines would mainly satisfy the industrial need for technological innovation, energy, and education.

“Our office here is really a matchmaking service. The office is intended to put together Filipino opportunities with British Columbia opportunities and make them work,” said Ms. Clark, who in several instances professed her love for Jollibee spaghetti, and even joked that the fast food chain should consider setting up a franchise in British Columbia.

One of the Philippine businesses that is interested in doing business with British Columbia is Ayala Corp., which will invest in a 250-unit residential apartment building in the province.

In 2015, British Columbia had the largest share of exports among the provinces in Canada, accounting for 26% of total exports, according to statistics from the province’s website, with lumber being its biggest export to the Philippines.

Asked if there are any worries that the incoming administration might not sustain the momentum of the economic activity under Aquino’s term, she said that she didn’t have any comment on Philippine politics.

Philippine’s construction firm EEI Corp. said its is looking for partnership, investment, and technology transfer opportunities in British Columbia in a bid to improve the company’s technical know-how and capacity to adopt an environmentally friendly approach in the construction sector.

Roberto Jose L. Castillo, EEI President and Chief Executive Officer, told reporters at the sidelines of a joint meeting for the BC delegation to the Philippines that they are scouting for business opportunities in British Columbia.

“We’re always looking for opportunities anywhere. And I actually have been to BC for a project several years ago. Unfortunately, the project was cancelled. Hopefully it will revive,” Castillo said.

He said possible opportunities are local fabrication of parts, or foundation of establishments and/or homes and exporting them to BC, or even transfer of BC’s environment-friendly technology and approach in construction to Philippine contractors.

“We deal with a lot of foreign engagements. We’re looking opportunities both ways [Philippines to abroad and vice versa],” Castillo said.

“British Columbia, or Canada in general, is very concerned with the environment. We would like to walk with them so we can learn more about techniques that protect the environment,” he added.

The EEI president hopes that the company can help BC in rebuilding homes since its wildfire season started as early as April.

“If there is a chance, we will help them from the wildfires. Many were displaced, and rebuilding is needed. Their population is only 26 million. Carpenters [for rebuilding] are not enough,” Castillo said, but noted that there may be difficulties due to the strict business environment in the Canadian province.

A member of the Yuchengco Group of Companies, EEI was established in 1931 mainly engaged in building power plants, food and beverage manufacturing facilities, semiconductor plants, real estate projects, and other infrastructure projects such as roads, bridges, rails, ports, airports and other infrastructures. Aside from its local business, EEI is also working on some construction projects overseas.

 Quick Facts :

• There are more than 135,000 British Columbians who identify as Filipino.

• The Philippines is among the fastest-growing economies in the world, with GDP growth of 6.3% expected in 2016.

• B.C. is the top Canadian provincial exporter to the Philippines, with $190 million in exports in 2015.

• The Province has 12 Trade and Investment offices based in Japan (1), South Korea (1), India (3), China (4), Europe (1), the United States (1) and the Philippines (1).

• B.C. trade and investment representatives played a key role in facilitating and supporting more than 160 inbound and outbound trips involving B.C. companies and organizations in 2014-15.