01 July 2015 - Philippine Ambassador to Mexico Catalino R. Dilem, Jr. promoted the Philippines and ASEAN as trade and investment destinations in a forum on the Asia-Pacific region, held in Mexico City on June 24.

The Forum on Asia-Pacific, organized by the Mexican Business Council for Foreign Trade or COMCE (Consejo Empresarial Mexicano de Comercio Exterior), brought together representatives from the diplomatic corps and Mexican government to share their insights on the economic opportunities in the Asia-Pacific region.

The keynote speech was delivered by India’s envoy to Mexico, Ambassador Sujan R. Chinoy. He noted Asia’s importance as an engine of global economic growth, and observed that Asia already has significant historical links with Latin America, with Mexico in particular, via the Manila-Acapulco Galleon Trade.

Ambassador Chinoy stated that Asia is vast, with a population of four billion and containing the fastest-growing economies in the world. Of the top ten largest oil-consuming economies globally, five are within Asia. Within the region, ASEAN is a major factor to consider, as a unified bloc. Ambassador Chinoy stressed that Mexico needs to know more about Asia, particularly given the significant economic opportunities that it offers.

Ambassador Dilem, together with diplomats from four other ASEAN members – Indonesia, Malaysia, Vietnam, and Thailand – spoke on a panel concerning the importance of market regionalization as a factor in international economic development.

Ambassador Dilem described the rapid economic progress and growth that the Philippines is currently enjoying, as well as its potential to become one of the largest economies in the world by 2050. He then touched on the bilateral trade and investment relations between the Philippines and Mexico, and noted that these were steadily increasing, with the added influx of major Mexican investments by Cementos Mexicanos (CEMEX) and Coca-Cola FEMSA in the Philippines.

The Ambassador informed the audience of the close historical links that the Philippines had with Mexico, and noted that the Philippines is currently hosting the APEC meetings in 2015, with the objective of fostering more inclusive economies throughout the entire Asia-Pacific region.

Ambassador Dilem then moved on to ASEAN, describing its economic opportunities as a growing hub of consumer demand and major nexus for manufacturing and trade, noting that ASEAN collectively comprises the seventh-largest economy in the world with a combined population of over 600 million. He cited ASEAN’s strong and consistent economic performance, and stated that its members would be inaugurating the ASEAN Economic Community in 2015, which aims to bring all ten members together into a single market and production base.

Furthermore, Ambassador Dilem noted that ASEAN’s consuming class, which currently stands at 67 million households, is expected to double to 125 million households by 2025, making ASEAN a vital consumer market of the future. Ambassador Dilem closed with an invitation to all Mexican entrepreneurs to explore the Philippines and ASEAN as partners for investment and trade. END