Brasilia PE Conveys Philippines’ Hopes to Reinvigorate Bilateral Economic Relations and Cooperation with Brazil

 ASEAN Heads of Diplomatic Missions under the ASEAN Committee in Brasilia (ACB)’s joins the Videoconference with the Brazilian Federation of Foreign Trade Chambers of Commerce Vice President Mr. Gleisner and the Foreign Trade Digital Platform COMEX on the Possible Trade and Investment Opportunities in ASHAN and in respective countries, 25 June 2021. Photos from top clockwise: Charge d’ affaires, a.i. Ms. Leilani S. Feliciano (Phiippines); Indonesian Ambassador Edi Yusup; Malaysian Ambassador Lim Juay Jin; Myanmar Ambassador Myo Tin; Singaporean Ambassador Desmond Ng;  Thailand Ambassador Nitivadee Manitkul; Vietnam Ambassador Pham Thi Kom Hoa (Chairperson, ASEAN Committee in Brasilia) (Photos from Brasilia PE)

BRASILIA, 05 July 2021 -  The Philippine Embassy in Brasilia Charge d’ affaires, ad interim Ms. Leilani S. Feliciano joined all the ASEAN Heads of Diplomatic Missions in Brasilia under the ASEAN Committee in Brasilia (ACB) for a videoconference on 25 June 2021 with the Brazilian Federation of Foreign Trade Chambers of Commerce (FCCE) Vice President and organizer of the biggest foreign trade digital platform - COMEX in the State of Rio Grande do Sul (Associacao Comercial Porto Alegre) Mr Arno Gleisner, and Philippine Honorary Consul General in Porto Alegre Dr. Somchai Ansuj.

The event saw ASEAN Heads of Missions deliver their presentations on the trade and investment opportunities in ASEAN and in their respective countries to 150 Brazilian importers, exporters and service providers in Rio Grande do Sul.

In her speech, the CDA Feliciano stated that similar to the majority of countries in the world, the Philippine economy has been adversely affected by the COVID-19 pandemic, where in the last quarter of 2020, the Philippines contracted by 8.3%. She attributed this to a decline in consumer spending, economic and business activity, including tourism. A year before the pandemic, the Philippine economy grew by 6% in 2019. Nevertheless, CDA Feliciano assured participants that the Philippine Government remains resolute in working vigorously to regain the country’s standing as one of the fastest-growing economies in Asia.    

CDA Feliciano also  stated that the Philippines considers Brazil to be a key player in global and regional affairs, and shares Brazil’s desire in deepening engagement and further strengthening bilateral economic relations and cooperation.

The two countries will soon convene their 5th Bilateral Consultation Mechanism (BCM), with a plan to reinvigorate their bilateral cooperation, with the possibility to negotiate and sign bilateral agreements during the 5th BCM in 2021. This event will coincide with the 75th Anniversary of the Establishment of Diplomatic Relations between the Philippines and Brazil this year.

Finally, CDA Feliciano conveyed the fervent hope to significantly improve bilateral trade and  investments and tourism cooperation with Brazil through export diversification by introducing high-end PH products into the Brazilian market such as PH world-class furniture and world-famous PH South Sea pearls and other manufactured goods. As the pandemic is slowly being resolved through mass vaccination, the Philippines hopes to reinvigorate bilateral economic relations and cooperation through heightened interaction between respective industries and business sectors and participation in trade missions and international trade fairs like the Manila FAME & IFEX, exchange of high-level visits of high-ranking officials and businessmen and formation of more cooperative programs  in trade, tourism, and cultural pursuits with Brazil.

Brazil continues to be the second largest trading partner of the Philippines in the Latin American region, second only to Mexico with a total bilateral trade of US$1,068.89 billion total in 2019 and US$839.37 million in 2020. The Philippines’ exports to Brazil amounted to US$185.26 million in 2019 and US$161.13 million in 2020. Bilateral trade has always been in favor of Brazil with Brazilian exports to the Philippines at US$883.64 billion total in 2019 and US$678.24 million in 2020. Moreover, the Philippines’ investment of International Container Terminal Services Incorporated (ICTSI), a PH company, in Tecon Suape, Pernambuco reached almost US$100 million since it started.  END

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