PH Wants More Trade and Investment from Hong Kong

03 December 2017 — The Philippines wants to attract more trade and investment from Hong Kong as it moves to further strengthen economic relations with the special administrative region.

The Department of Foreign Affairs said economic cooperation was on top of the agenda during the meeting between Foreign Affairs Secretary Alan Peter S. Cayetano and Chief Executive Carrie Lam Cheng Yuet-Ngor of the Hong Kong Special Administrative Region on Friday.

“We are optimistic about the future of Philippine-Hong Kong relations and we look forward to taking giant steps in various areas of cooperation,” Secretary Cayetano said from Hong Kong where he is on an official visit.

During the meeting, Secretary Cayetano said he discussed with Chief Executive Lam a wide range of issues, including the enhancement of economic relations between the Philippines and Hong Kong, cultural cooperation, people-to-people exchanges, and matters related to the Filipino Community in Hong Kong. 

“We talked about opportunities to further strengthen cooperation in the areas of trade and investments, labor, tourism, and people-to-people exchanges, especially with the signing of the ASEAN-Hong Kong Free Trade Agreement,” Secretary Cayetano said.

According to the Secretary, he offered to assist investors from Hong Kong in exploring opportunities in the Philippines and encouraged the opening of an Economic and Trade Office in Manila. He said tourism is an area for growth that Hong Kong investors should seriously take a look at.

Secretary Cayetano also took the opportunity to thank Chief Executive Lam for the hospitality extended to the close to 219,000 Filipinos working in the special administrative region.

The Secretary said the Hong Kong Chief Executive also expressed her appreciation for the contribution of Filipinos to Hong Kong’s economic growth and development and emphasized that she “wants Filipino workers to work and live in Hong Kong happily.” 

Secretary Cayetano was accompanied during the meeting by incoming Consul General Antonio Morales, Foreign Affairs Undersecretary for International Economic Relations Manuel Teehankee, Presidential Adviser on Investments Atty. Antonio Cablitas and other DFA officials. 

Joining the call from the Hong Kong side were Secretary of Commerce and Economic Development Edward Yau Tang-Wah and Acting Secretary for Labor and Welfare Casper Tsui. END