MAKATI – The Department of Trade and Industry (DTI) has highlighted certain areas of collaboration with Thai companies—such as garments, retail, medical and retirement tourism. This was revealed during its 10 October meeting with the Thailand-Philippines Business Council, led by Chairman Visit Limprana.

“As ASEAN neighbors, we can see a lot of possible investment collaborations between Filipino and Thai businesses. And the industries we’ve mentioned like garments, are very promising considering our massive domestic consumer market, growing middle class earners, and the growing manufacturing industry complemented by our rich pool of talents and professionals,” said DTI Secretary Ramon Lopez.

Sec. Lopez underscored the PH growth story and government’s reforms to promote ease of doing business as well as the massive infrastructure program to facilitate trade, open new markets, and develop growth centers. He encouraged the business delegation to expand their manufacturing operations in PH and widen its market access to other trading partners.

Meanwhile, Chairman Limprana has expressed his appreciation to the PH government for participating in the business forum organized for Thai businesses and said they are looking forward to collaborate with Philippine businesses in the future.

Thailand-Board of Investment Senior Investment Advisor Pannee Chengsuttha also relayed to DTI officials their drive to encourage Thai businesses to invest in other partner countries, like PH. Likewise, they intend to invite Filipino conglomerates to expand their businesses in Thailand.

Bangkok Bank VP and Branch Manager Nattika Kanpawong conveyed Bangkok Bank’s support to assist Thai investors coming in PH. Bangkok Bank currently has a branch in Makati.

In 2017, Thailand was the PH’s 7th trading partner, 7th export market, and 5th import source. Compared to 2016, PH exports to and imports from Thailand climbed 25.5% and 2.8%, respectively, last year. Also, approved investments from Thailand totaled P363.6M in 2017.END