Report on the Polish-Philippine Business Forum

During the Forum, an attempt was made to identify opportunities and challenges that exist in both countries. Ideas and good business practices were also exchanged based on achievements to date, both in the government and private sector.

The event was opened by Leah Basinang-Ruiz, Ambassador of the Republic of the Philippines in Poland, who pointed out the steady increase in bilateral trade between the two countries. An important point of bilateral relations was the opening of the Embassy of the Republic of Poland in Manila, and then the Foreign Trade Office of the Polish Investment and Trade Agency(PAIH). In turn, Dr. Andrzej Arendarski, President of the Polish Chamber of Commerce, drew attention to the cooperation initiatives undertaken jointly with the Filipino Chamber of Commerce.

Ireneo Vizmonte, the Undersecretary in the Department of Trade and Industry (DTI), emphasized the strengths of the Philippine economy in his speech. In particular, he highlighted the efforts of the Philippine government to revive the economy, which has experienced a significant slowdown as a result of the Covid-19 pandemic. Among the important initiatives, he mentioned the tax reform, which aims to reduce individuals income tax and the continuation of the government's flagship program "Build, Build Build". These measures are expected to increase the Philippines GDP to 6.5% in 2021 and up to 10% by 2022.

Speaking on behalf of the Polish Ministry of Development, Labour and Technology, Undersecretary Robert Tomanek pointed to the 100% increase in bilateral trade between Poland and the Philippines in 2015-2020.

Bilateral trade is growing despite the pandemic

The head of the PAIH office in Manila, Rafał Owczarek spoke about bilateral trade between Poland and the Philippines and the importance of strengthening relations between business and government agencies. He stressed that trade between the two countries has more than quadrupled in the last decade, from EUR 130 million in 2010 to EUR 633 million in 2020.

Moreover, the head of PAIH’s Foreign Trade Office identified the most important categories of commercial products, presenting the most important Polish export categories, which last year included helicopters, dairy products, orthopedic equipment, machines and telecommunications equipment.

Despite the Covid-19 pandemic, which caused a sharp increase in shipping costs by 400%, Polish exports to the Philippines recorded a 69% increase year on year from EUR 106 million in 2019 to EUR 179 million in 2020 - said Rafał Owczarek.

The head of the PAIH office also pointed out a very important aspect that underlies every business relationship. He persuaded business representatives to invest time in building relationships with potential partners, because business in the Philippines is often based on friendly relations.

Good practices and government support

As part of the Forum, representatives of Polish companies: the Pietrucha Group and Nextbank shared their experiences. In their speeches, they showed how effectively businesses can be develop in the Philippines and what level of investment is required in order to operate effectively.

The good news is that Polish businesses are entering Asian countries, including the Philippines, more and more boldly. In order to support the activities of Polish entrepreneurs, from 2018, they have at their disposal the Foreign Trade Office of the Polish Investment and Trade Agency, which actively helps Polish businesses in new local conditions.