By Justine Irish D. Tabile, <\/b>Reporter<\/i><\/p>\n
A BUSINESS group from Canada comprising 300 individuals is set to visit the Philippines next month to investigate partnerships in food security, sustainable technology, infrastructure, and information and communications technology (ICT), according to the Canadian embassy.<\/p>\n
During a briefing on Thursday, Senior Trade Commissioner Guy Boileau stated that this will be the largest Trade Mission Canada has ever dispatched, overshadowing the groups sent to other parts of Asia.<\/p>\n
\u201cThis represents the most extensive Team Canada Trade Mission we have organized. It surpasses the delegations sent to Japan and Korea,\u201d Mr. Boileau informed reporters.<\/p>\n
\u201cIt reflects Canada’s growing interest in engaging with the Philippines,\u201d he remarked.<\/p>\n
He mentioned that prospective investors are attracted to the Philippines due to its expanding economy, English-speaking populace, youthful demographics, and significant economic reforms.<\/p>\n
\u201cThis is a wonderful nation that is increasingly recognized as a center for servicing other countries in the region,\u201d he noted.<\/p>\n
\u201cAdditionally, this country speaks English, which simplifies many processes. The population is very young and technologically adept, attributes that resonate when we speak with our businesses,\u201d he continued.<\/span><\/p>\n He highlighted the significant reforms such as adjustments to the Public Service Act and Public-Private Partnership Code, the liberalization of pivotal industries like renewable energy, and the enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE).<\/p>\n \u201cThese are all highly favorable indications to overseas investors and exporters, including those from Canada, who fundamentally seek a stable and predictable business environment,\u201d he remarked.<\/p>\n \u201cWhat we have witnessed over the last few years is that the Philippines is indeed moving in that direction. That\u2019s quite intriguing and promising for future partnerships and collaborations,\u201d he added.<\/span><\/p>\n The trade mission, scheduled from Dec. 4 to 6, will also see participation from 20 industry associations, such as the Business Council of Canada and the Canada-ASEAN Business Council.<\/p>\n \u201cFurthermore, we have representation from nearly all of our provinces and territories. In fact, a minister from the province of Alberta will also be part of the delegation,\u201d he stated.<\/p>\n \u201cThe delegation comprises about 60% small and medium enterprises (SMEs) and 20% to 30% large Canadian firms. This aspect is particularly significant as we recognize the value the Philippines places on supporting and expanding SMEs,\u201d he added.<\/p>\n The delegation will investigate priority sectors that align with the administration\u2019s goals, including food security, clean technology, infrastructure, and ICT.<\/span><\/p>\n \u201cWe have companies coming in from agro-industrial solutions and the processed food and beverage sectors as well. Within clean tech, we are engaging members involved in energy efficiency, water and wastewater management, decarbonization, carbon capture, and more,\u201d he noted.<\/p>\n \u201cThe third key sector is infrastructure. We understand the significance of this for President Marcos. Thus, we will have companies arriving from this sector focused specifically on master planning, engineering, and nuclear energy,\u201d he mentioned.<\/p>\n ICT will feature businesses in financial technology solutions, satellite communications, cybersecurity, and artificial intelligence sectors.<\/p>\n \u201cThese are the four priority industries for the Team Canada Trade Mission. Other sectors will also be represented, including defense, aerospace, and education,\u201d he stated.<\/p>\n The delegation will consist of Canadian firms that have yet to establish significant involvement with the Philippines, he pointed out.<\/p>\n Mr. Boileau emphasized that international trade is vital for the Canadian economy, underscoring the importance of trade diversification.<\/span><\/p>\n \u201cWhen discussing growth in the Canadian economy, we cannot overlook international trade, which emphasizes the need for trade diversification,\u201d he stated.<\/p>\n \u201cWe understand that excessive concentration may not always be beneficial, therefore we work to provide a framework and regulations that allow our businesses to access a wide array of global markets,\u201d he added.<\/p>\n He indicated that discussions regarding the ASEAN-Canada free trade agreement are currently in progress and are expected to conclude next year.<\/p>\n \u201cWe have conducted several rounds of negotiations. Our leaders have pledged to finalize these talks by the end of 2025,\u201d he said.<\/p>\n In the meantime, Andrew Green, political and public affairs counselor at the Canadian Embassy, remarked that the trade mission is an element of Canada\u2019s Indo-Pacific strategy announced two years prior.<\/p>\n \u201cThis trade mission forms part of the Indo-Pacific strategy revealed in 2022. It is unrelated to the events of the electoral campaign in the United States and the forthcoming administration,\u201d he stated.<\/p>\n \u201cI wouldn\u2019t connect these two events. However, a concentrated trade focus in the Indo-Pacific will aid Canada in managing any specific disruptions within the international system,\u201d he added.<\/p>\n