26 August 2016 — The Philippine Embassy in Pretoria, in collaboration with the Johannesburg Chamber of Commerce and Industry (JCCI), briefed South African businessmen on how to do business in the Philippines on July 27.

Ambassador Joseph Gerard B. Angeles shared the country's stellar economic figures, which has averaged an annual 6.2% in the past five years, and made a case for businessmen to invest in the Philippines, citing the country's investments on public infrastructure and efforts to implement economic-friendly legislations and policies, coupled with booming growth in the sectors of business process outsourcing, tourism, semiconductors and electronics, real estate and manufacturing.

Although the distance between the Philippines and South Africa brings high logistical costs into consideration, South African businessmen continue to be keen on exploring the Philippine market, given the country's sustained strong economic performance amidst a global downturn. The South African Trade and Industry representative in attendance said that there is potential for South Africa to export light petroleum oils, automobiles and automobile engines, diesel trucks, hot rolled iron steel and gold (in semi-manufactured form) to the Philippines. Currently, bilateral trade between the two countries is in favor of the Philippines, given that South Africa imports more value-added goods while its exports are mostly in primary goods.

The briefing also sparked interest and discussions for businesses to put up an Asia-Africa Business Council for which Ambassador Angeles had expressed support and encouragement.

As part of increasing the Philippines' economic profile, the Embassy distributed copies of the "Economy PH: A snapshot of the path for the Philippines' economy," a publication made by the Investor Relations Office of the Bangko Sentral ng Pilipinas. END