Canada to pursue investments in RP

Canada will pursue its aggressive investment and export thrust into the Philippine market in the coming year to further strengthen bilateral ties between the two countries, a senior Canadian official said during the weekend.

Canadian Ambassador Robert Collete expressed optimism that his country will be able to increase the level of investments and flow of official development assistance to the Philippines in 2002. He said his government is expected to focus its ODA next year on projects in depressed areas of the country, particularly in southern Philippines.

According to Collete, Canadian businessmen have shown enthusiasm over the planned visit of President Arroyo to Canada in late January. Mrs. Arroyo is expected to entice Canadian investors and business leaders to consider the Philippines as a growth area for Canadian presence in the Asia Pacific region. She is expected to stay in Canada for a few days on her way to attend the World Economic Forum in the US.

Canadian companies have been gradually but consistently tapping the Philippines as a key market for its products despite the economic slowdown in Asia in recent months.

"There is on doubt that the Philippines continues to be a target market by Canadian companies eager to make a foothold in Asia," says Marciano de la Cruz, Canada’s trade development officer in Manila.

For instance, according to De la Cruz, a Canadian processing company has just shipped its first containerload of Pacific salmon to Manila. The Canadian salmon was brought in by CSP International Commodities Corp. for distribution to its food service clients.

De la Cruz said the shipment was considered significant because it was the first time that Canadian Pacific salmon was ever shipped to Manila in such volume. He added that Canadian Pacific salmon is at par or even better than those imported from northern Europe in terms of quality and price. De la Cruz also noted that CSP International has been pioneering the introduction of Canadian products into the Philippine market.

According to CSP International president Maritess Concepcion, aside from highly competitive pricing, Canadian salmon have distinct advantage which will make food service operations highly profitable.

Food service operators can also use salmon as a key ingredient n a number of products, such as burgers and salads, she added.

At present, local food service establishments import their salmon requirements mostly from Europe. The price however can be quite high, Concepcion said.