Philippines, Spain eye trade boost trade

MANILA, Philippines - The Department of Trade and Industry (DTI) is pushing for stronger bilateral relations of the country with Spain in hopes of helping bring the local economy to even greater heights.

Spain currently ranks as the Philippines’ 26th major trading partner, 25th export market and 23rd import source.

For the first three months of the year, the Philippine Statistics Authority reported that bilateral merchandise trade between the Philippines and Spain has reached $130 million.

“A stronger partnership between Spain and the Philippines will allow us to advance our respective development goals, expand our markets, and improve the quality of life of our people. We are urging Spain and our friends in Latin America to seize opportunities in Asia through the Philippines,” Trade Undesecretary Adrian Cristobal said.

Spanish Ambassador Luis Calvo said the Philippines economic improvement over the past few years has not gone unnoticed among Spanish investors.

Calvo said the Philippines, as the only country in the Association of Southeast Asian Nations (Asean) to be granted inclusion in the European Union’s General Scheme of Preference Plus (EU-GSP+) is attracting a significant number of Spanish companies which are interested in doing business in the country and contributing to its modernization.