SASKATOON - Philippine Ambassador to Canada Leslie B. Gatan recalled his visit to Saskatoon in 2012 and expressed pleasant awe at the role being played by the province and how its economic performance parallels that of the Philippines, as he drew attention to the possible synergies between the Philippines and Saskatchewan.
Gatan praised Saskatchewan businessmen for elevating the status of the province not only to the Canadian economy, but for the global economy as a whole, in his address before the Greater Saskatoon Chamber of Commerce on 28 March 2013.
Ambassador Gatan noted the uncanny knack displayed by the province in turning adversity into opportunity. Despite a period of drought and global corporate consolidations, the first time, agri-food exports of Saskatchewan breached the $11 billion mark - increasing by a whopping 9 percent over the previous year's performance. The province notably bested the ever powerhouse Ontario by generating over 23% of the total agri-food exports of Canada.
Ambassador Gatan marvelled at the global reach of Saskatchewan food products that has only expanded ever more accounting for over 50% of the global supply in canary seeds, rye, lentils, peas, oats and flaxseed. As it feeds millions, it also fertilizes the world's fields with its abundant potash.
Ambassador Gatan referred to the success of Saskatchewan as he highlighted the recent gains made by the Philippine through many adversities, that tested the resolve and resilience of the Filipino people. In the past two years, many foreign observers are now marvelling about the economic rise of the Philippines.
Ambassador Gatan noted that "not only are we now referred to as the ‘the brightest economic star in Asia' whose GDP grew at 6.6% last year, second only to China in the Asia Pacific region, but also as a country in an ‘enviable position' for sustained growth."
In Asia, the Philippine stock market is the best performer; inflation at 3.0 % is the lowest; consumer debt at 7% is also the lowest; and, in Southeast Asia, the banking system is rated the healthiest; with the country being cited as among East Asia's 5 top bond markets.
The Ambassador drew attention to over eight recent credit rating upgrades, with the budget gap, another barometer of an economy's health, was 2% last year against the record high of 5.2% in 2002. On the week the Ambassador made his address, Fitch raised its rating for the Philippines for the first time at investment grade.
As the call center capital of the world, Philippine services exports earnings can equal the annual inward remittances of $25 billion in 5 years' time, according to the Ambassador.
The Ambassador remarked that while developed countries are in economic downturn, Canada is not. The same is true with the Philippines, as the country withstood the energy crisis of the 1970s; it has weathered the financial crisis of the 1990s; faring well during the global recession that started in 2008.
The Ambassador called on businessmen to the missed the opportunities in the Philippine market as the trade balance between the two countries was in our favor of the Philippines.
The Ambassador encouraged business to look closely at ASEAN and the Philippines in particular, noting that ASEAN will be a single market of over 700 million by 2015. The ASEAN-Canada Business Council, recently formed, can tap this huge market.
The Ambassador recalled that in 2012, the Philippines and Canada signed an agreement establishing the Joint Commission for Bilateral Cooperation to reinforce our economic partnership. Prime Minister Stephen Harper went to the Philippine last November to reinforce that partnership. The future of economic bilateral relations is bright.
The Ambassador pointed to Filipinos as the largest group of immigrants and temporary workers arriving in Canada each year since 2010. Last year, the Philippines ranked second to China by only a difference of hundreds. Beyond human resources, the Philippines and Canada combine to be both viable markets for trade and attractive destinations for investments.
For the Ambassador, Canadians and Filipinos share such common cultural values as devotion to God, country and family, Christians both, English-speaking, hard-working, conscious of human dignity - qualities that will deepen their bond of lasting friendship and partnership.
The Ambassador pitched more good news as he invited those present to join him in a trip to the Philippines in July for the yearly Ambassadors, Consuls General and Tourism Directors Tour. "I will be happy to be your guide, assured the Ambassador.
He noted that for the first time this year, the tour will also have a business component, a business mission to the Philippines as he assured that his office would help facilitate linkages with businesses and business enablers in the country.
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