In line with building commercial linkages with China by promoting the best of Philippine products, and fostering a strong spirit of kinship, Figaro CEO Pacita Juan led other business delegates during the week-long visit. They met with the mayor of Shanghai and the governor of Hebei province (which surrounds the national capital Beijing), where a worthwhile interaction ensued with local investors as part of business matching discussions and networking opportunities.
Figaro was invited by the Philippine commercial attaché to represent Filipino companies looking for investment opportunities in China regarded as the "Asian Goliath". It was also a fitting time to invite Chinese investors to look at the Philippines as an investment alternative. Aside from Figaro, the business delegates who embarked on the recent week-long trip to China included key representatives from Distilleria Limtuaco, Centro Ville Group, SYSCO Group of Companies and the University of Asia & the Pacific’s Strategic Business Economics Program.
The Chinese investors became interested in visiting the Philippines to find out areas for growth and profitability.
China, the emerging economic center of gravity of Asia and the world, is one of the Philippines’ biggest markets. Recent years have seen China experiencing explosive economic growth, with entrepreneurs rising among the country’s most dynamic forces. Processed food and beverages rank as some of the major sectors currently experiencing robust demand in China.
By pursuing such high-level contacts and exchanges, the business delegates foresee more avenues opening for investments and business to and from China. "The endeavor opened broad prospects for cooperation, especially in expanding market niches for Philippine goods and services. Figaro’s participation in trade missions reflects its strategic thrust of stepping up Asian-European exchange and collaboration that’s vital in the new economic order," Figaro’s Juan said.
Figaro is an established name in the Philippine specially coffee sector which has endeavored to create Filipino coffee shops that can compete both locally and internationally. To date, Figaro has gone on full-scale expansion mode to Asian boom cities, beginning with its first international outlet in Hong Kong.
Before the world market was just looking at Philippine coffee beans as a commodity, but now it is looking at coffee as a franchise venture. Figaro has shown the way in maximizing international market penetration by expanding internationally in high-growth areas like China. What makes it even more appealing is that coffee products go well with the Filipino’s unique brand of service, which is another thing Figaro is noted for.