Canadian businessmen optimistic over prospects of

Despite the economic slowdown, Canadian businessmen are optimistic over the prospects of Philippine franchising industry, particularly in the consumer market.

Canadian ambassador Robert Colette said yesterday that the Canadian Franchise Association is sending a business mission to the Philippines to look for master franchisees.

Consumer spending has been up this year and government economists expect consumption to continue going up, packing enough momentum to keep the economy from sliding into a recession.

Canadian trade officials said there was considerable potential for growth in the Philippine economy, especially in the franchising sector for various consumer goods and services.

According to Colette, participants in the mission are Canadian franchises seeking master franchisees in the Philippines such as Turf Management Systems Inc./The Weed Man; The Great Canadian Bagel; Donato Foods Corp.; International Institute of Travel and ICI Franchises Inc.

Also participating were Canadian franchises seeking to expand their presence in the country.

The mission would be joined by such franchises as Country Style, Beavertails and Cinnzeo and two companies seeking distributorship partners – Premium Canadian Pet Products and Sunny Day Environmental & Bio-Tech Services.

Colette said the mission would attend the Franchise Asia 2001 Expo to present briefings, presentations, partnering meetings, networking receptions and visits to major malls and commercial centers where various Canadian and other foreign and local franchises are located.

According to Collete, the Canadian Business mission was organized by the Canadian Embassy in Manila and the Canadian Department of Foreign Affairs and International Trade.

The mission was also supported by the Agriculture and Agri-Food Canada and the Canadian Franchise Association.

Colette said the Philippine-Canada trading relationship has been growing significantly, surpassing the CDN$1 billion mark in 1998 and reaching CDN$1.8 billion in 2000.

According to the Department of Trade and Industry, Canada was the eighth largest foreign investor in the Philippines in 1999.