The Ford export program was firmed up during a visit by Trade Secretary Manuel Roxas II to Washington, during which he signed a memorandum of agreement with Ford Motor Co. vice chairman Wayne Booker.
The company is expected to manufacture and ship a total of 5,467 vehicle units to Thailand and 1,196 vehicle units to Indonesia this year, Ford Philippines president Terry Emrick said.
The exports to Thailand are expected to begin this month while those to Indonesia will begin within the year.
These figures are expected to grow "more than eightfold within the next five years," Emrick added.
"We are extremely proud of the fact that Ford is the first automotive company in the Philippines to be a volume exporter of CBU vehicles," Emrick said in a statement.
"This is a concrete show of our commitment to assist in the Philippine government’s efforts improve the country’s trade balance."
He did not specify what models of CBUs were being exported.
Emrick said Ford had pumped in a total of P4 billion ($77 million) in investments in its manufacturing facilities in Laguna province, south of Manila, to produce the newest lines of Ford vehicles, including sedans and sport utility vehicles. – AFP