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Exploring synergies for bilateral trade with the Philippines

Exploring synergies for bilateral trade with the Philippines

In continuing with Sri Lanka’s engagement with Philippine business support organizations to promote export products, investments, and collaborations, the Ambassador of Sri Lanka to the Philippines, Shobini Gunasekera, paid a courtesy call on the President of the Philippine Chamber of Commerce and Industry (PCCI), Ambassador Benedicto V. Yujuico, on 1 October 2020.

During the very synergetic meeting, Ambassador Gunasekera emphasized that among other traditional export products, the Embassy has also identified the IT-BPM and the precious stones/gems industry as having a good potential in the Philippine market.

In order to broaden opportunities for Sri Lankan jewelry and gems in the local market, the Embassy has been working with the PCCI to support the accession of the Philippines to the Customs Convention on the ATA Carnet for Temporary Admission of Goods which will facilitate the smooth entry and promotion of such products in the country. Notably, the President of the Philippines has recently signed the instrument of accession to the convention.

In the IT-BPM sector, Ambassador Gunasekera mentioned that the Embassy has initiated an exploratory meeting between the IT and Business Process Association of the Philippines (IBPAP) and the Sri Lanka Association for Software and Services Companies (SLASSCOM) to explore potential areas for collaboration in the industry.

On the other hand, Ambassador Yujuico considered the meeting as a catalyst for invigorated trade relations between the two countries. Together with his officers, he relayed the growing interests of the Philippine business sector to venture into Sri Lanka particularly in the tea, gemstones/jewelry, food processing, agriculture, hospitality, and restaurant industry.

As the way forward, a series of virtual meetings will be organized with the PCCI and relevant business support organizations/ stakeholders in Sri Lanka.

The PCCI, the biggest business organization in the Philippines, is the voice of the Philippine business sector recognized by the government and international institutions. As a proactive catalyst of development, PCCI promotes and supports the drive for globally competitive enterprises in partnership with government, local chambers, and other business organizations.

Embassy of Sri Lanka
06 October 2020

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