Philippine Ambassador Ezzedin Tago led Embassy officials in meeting with Saudi-Philippine Business Council (SPBC) President Walid Al-Suwaidan at the headquarters of the Council of the Saudi Chambers of Commerce and Industry in Riyadh.
“The two officials discussed possible business and investment opportunities in various sectors, including tourism, business process outsourcing, agriculture, halal food, and infrastructure,” the DFA said.
With Tago were Labor Attaché Albert Valenciano, Cultural Attaché Mohammad Taha Guinomla, and Economic Assistant Edison Ipac.
During the meeting, Al-Suwaidan stressed both the Saudi and Filipino people are partners in national development, and lauded Filipinos for their professionalism and skills.
"Because of our long partnership in manpower and the generations of working together, our people know each other very well," Al-Suwaidan said.
Both sides also agreed the two countries must build on this strong bond and further elevate relations in trade, investment and tourism.
For his part, Tago briefed Al-Suwaidan on recent economic developments in the Philippines.
He said the Embassy will provide the SPBC and the Council of Saudi Chambers of Commerce and Industry with regular information and updates on the investment environment and opportunities in the Philippines.
Meanwhile, Embassy officials also met with Riyadh Chamber of Commerce and Industry (RCCI) Secretary General Hussein Al-Athel to discuss ways to enhance commercial relations between the two countries and their respective private sectors.
Al-Athel welcomed the Embassy's efforts to reach out to the Saudi private sector, and pledged the Secretariat's support for future endeavors that strengthen cooperation between the chambers of commerce.
“Mr. Al-Athel regularly visits the Philippines with his family. He cited the Filipino people's hospitality and the country's natural beauty as reasons for his frequent visits,” the DFA said.
Tago noted tourism statistics show a consistent rise in visitors from Saudi Arabia.
He said the Philippines does not require a visa for Saudi nationals visiting the country for less than 21 days, and that the Embassy is promoting tourism in the Philippines and investments in the sector.
For 2010, Saudi Arabia ranked 13th as the Philippines trading partner, and 33rd as export market and 9th as import supplier. For January to October 2011, Saudi Arabia ranked as the 10th trading partner of the Philippines.
The Philippines' top exports in 2010 and 2011 consisted of bananas and pineapples, men's wear from materials on consignment basis, and cathodes. Imports from Saudi Arabia consist mainly of crude oil. — LBG, GMA News
