29 September 2014 – Philippine Ambassador Alex V. Lamadrid called on the officials of the Chamber of Commerce and Industry of Benin (CCIB) in Cotonou on September 19 .
CCIB’s President Jean-Baptiste Satchivi, warmly welcomed Ambassador Lamadrid and his delegation and expressed appreciation for Ambassador Lamadrid’s visit to his office because its paves the way to enhanced the bilateral trade between Benin and the Philippines. Mr. Satchivi encouraged Filipino businesses to invest in Benin. He emphasized that Benin is a promising country, being strategically located in West Africa and the closest neighbor of Nigeria, the biggest economy of Africa. Its Cotonou port is used as transit point to West African countries.
Mr. Satchivi also assured Ambassador Lamadrid of the stable security situation of Benin. He requested Ambassador Lamadrid to consider the following areas for cooperation: Infrastructure/Port construction,Tourism/hospitality industry, Agriculture and Education, particularly in technical and vocational fields like machine repair and maintainance.
On his part, Ambassador Lamadrid emphasized the need to improve the bilateral trade between the Philippines and Benin. The Ambassador encouraged Mr. Satchivi to look to the Philippines as the next investment/trade destination of Beninese businesses. Ambassador Lamadrid cited that the Philippines has a lot to offer, being one of the stable economies in Asia. He mentioned that the Philippines enjoyed the positive GDP increase of over 7% in 2013 and was given “investment grade” rating by international rating agencies, a good indicator that it is safe to invest and engage in business in the Philippines. It has competitive market and produces electronic goods, world-class furniture, textiles, health care and beauty products that are exported to different parts of the globe. The Philippines tops in BPO outsourcing, and has expertise in port construction and electric generation. It has special industrial zones where foreign investors may set up their industrial plants. Ambassador Lamadrid encouraged CCIB to visit the Philippines in time for Manila FAME, which Mr. Satchivi considered to do in March 2015. END