Swedes seek local partners to tap the Philippine market

Instead of putting up physical presence here to tap the Philippine market, Sweden-based companies prefer to partner with Filipino firms for trading agreement.

This was announced by Ambassador of Sweden to the Philippines Annika Markovic recently during the Philippine Sweden Business Opportunity Forum.

She said Small and Medium Entrepreneurs (SMEs) in Sweden are actively looking for direct business partner in the Philippines, as they are going global.

"There is a great potential for Swedish products in Cebu. Many businessmen in our country is now looking for someone to link with them directly to market their products here," Markovic said.

Sweden is an export-based country, according to Markovic the Swedes businessmen now are looking at the Philippines as potential market, however, strategic direct partnership with Filipino traders is necessary, instead of putting their headquarter offices here.

Likewise, the Philippines, especially Cebu could make use of this direct partnership move, as there are a number of Cebu products that are expected to hit in Sweden.

Markovic, mentioned the potential of mango fruit or processed mango products export to Sweden, along with furniture, fashion accessories, among other products.

"The Swedes have great openness for other cultures. Even in furniture, Asian type of furniture is doing very well in Sweden," she said.

However, she said Sweden furniture market is only entered by Vietnam and Indonesia made furniture.

"I don't understand why Philippine-made furniture is not well known in Sweden," the lady Ambassador said.

Sweden is the third largest country in Eastern Europe, with population of nine million.

She added that a direct partnership between Sweden-based businessmen and Filipino traders, especially Cebuano businessmen could be a great opportunity for Cebu-made furniture to enter Sweden.

Earlier, Cebu Furniture Industries Foundation (CFIF) president Michael Basubas said because of the weakening demand in the United States market for furniture, and the fiercer competition, furniture exporters are slowly hitting the higher scale market segment, such as in the wealthy countries in Europe including Sweden.