27 December 2005 -- The Philippine Embassy in Madrid reported to the Department of Foreign Affairs that Philippines-Spain bilateral trade and investment and the possible areas where Spanish businessmen and importers can explore business in the country were discussed during the seminar on "Business Opportunities in the Philippines” organized by the Ayuntamiento de Madrid (through Madrid Emprende) and ALITER Business School of Madrid on  15 December 2005.

“The Embassy is focusing on trade and investment promotion in the coming months. The seminar is a good opportunity to pursue our efforts of economic diplomacy with Spain,” Ambassador Joseph Bernardo y Medina said in his report to Foreign Affairs Secretary Alberto G. Romulo. “The Embassy will likewise capitalize on the successes in the Philippines of Spanish companies such as Soluziona (partnered with Meralco) and Tapón Corona Ibérica (partnered with San Miguel) in encouraging other Spanish investors to do business in the Philippines,” Ambassador Bernardo added.

Mr. Marciano R. de Borja, Political and Economic Officer of the Embassy made a presentation on the Philippines. The Spanish panelists included Mr. Luis Lopez, Technical Counselor for Trade and investment of the Ministerio de Industria; Mr. Pedro Chazarra, Director for Consulting of Soluziona, and Mr. Federico del Pozo, Director for Exports of Tapón Corona Ibérica. About 30 selected Madrid entrepreneurs and business school students attended the seminar.

According to Mr. Enrique Lopez, Chief of International Service of Madrid Emprende, the Ayuntamiento de Madrid will organize a trade and investment delegation to visit the Philippines next year. One lady executive in the conference told Mr. De Borja that she would visit Manila in February to tie up with a garments exporter. The owner of a large store of religious items in Madrid will also set up a joint venture with a Philippine company to produce and export religious articles to Spain and other parts of Asia. Two Spanish businessmen also expressed strong interests in importing Philippine herbal products.

Spain is the 31st export market of the Philippines, accounting for only 0.11% of total RP export of US$ 32.6 billion.   The Philippine’s major exports to Spain are electronic data processing hardware and software with 31% share of total, followed by manufacturing components and semiconductors with a 15% share, ready-to-wear garments with a 9% share, and jewelry with a 4% share.

Spain is ranked 29th as an import source, accounting for 0.38% of the total Philippine imports of US$ 40.3 billion. The top merchandise imports from Spain include beverages which account for 18%, transport equipment with an *% share, pharmaceutical products with a 5% share, and clay and ceramic materials with a 4% share. END
 
 
 
 

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