MANILA, Philippines — The Philippines is exploring more business opportunities in Turkey to boost bilateral trade between the two countries.
Turkish businessmen could also participate in the public private partnership (PPP) program particularly in the construction of airports, roads and bridges, according to Ernesto Chua, chairman of the Philippine-Turkish Business Council of the Philippine Chamber of Commerce and Industry.
Chua said Turkish investors could tie up either with the Philippine government or the private sector to undertake these priority projects.
"Financially, I think they are capable of doing. Turkey has the second biggest construction industry in the world," he said.
Chua said improvement in transport and logistics infrastructure is imperative to boosting Philippine trade with other countries.
The administration has lined up 16 projects under PPP this year with an estimated cost of P142 billion.
"We have doubled the bilateral trade from $100 million in 2010 to $200 million in 2011. There are a lot of business possibilities our two countries will be potentially inclined to undertake," he said.
Chua said that aside from food and agriculture products which Turkey also produces, the Philippines needs to export other goods there.
"We have to really identify these products. And the only way is to invite Turkish businessmen to come to Manila and hopefully, we can sustain the visitations," he said.
Beyond the traditional markets of the Philippines, the Philippine-Turkish business council also promoted lucrative business opportunities to the Latin American countries, the Middle East countries, Russia and Turkey.
Potential areas are in food and agriculture-related industries, organic chemicals, electronics, motor vehicle parts and accessories, construction, education, finance and health services.
Turkey is seen to become the 15th largest economy in the world from 2011-2017. It is the sixth largest economy among the 27 European Union countries. (EHL)
source: mb.com.ph
