Cebuano bizmen to forge links with Mideast traders

CEBU, Philippines - Cebuano businessmen expressed interest to forge linkages with Middle Eastern traders following the recent Arab-Philippines Business Summit Roadshow held in Cebu.

Organized by the Bahrain World Economic Summit (Philippines) Inc., (BWES-Phils), spokesperson Edward Keith Garciano Capoy said that the roadshow was attended by significant business organizations here, such as the Cebu Business Club (CBC), the Cebu Chamber of Commerce and Industry (CCCI), Confederation of Philippines Exporters Foundation (Cebu) Inc., or PhilExport-Cebu.

Over 100 businessmen across the industries joined the one-day event to prepare for the bigger show on April 19-12, 2013, the Arab-Philippines Business Summit to be held in Bahrain.

The Kingdom of Bahrain (Mamlakat al-Bahrayn) ranked first out of the 17 Arab countries in the Middle East / North Africa (MENA) region and is currently the financial center of the Arab World.

“It is now possible for Filipino businesses to expand and venture into these GCC and MENA countries or to get the badly-needed foreign investment funding for businesses here in the Philippines. And this is all made possible through the generosity of Bahrain and its current king, His Highness, Shaikh Hamad bin Isa Al Khalifa,” said Capoy.

In this connection, Capoy encouraged businessmen from the VisMin region to participate in this Summit, and lead the Philippine delegation, “because this is the conduit for successful business and trade partnerships between our country and these rich Arab countries.”

Several entries have already been presented coming from power generation, food production, agriculture, depots, multi-use economic zones, golf courses, tourism developments and more.

Delegates from the Kingdom of Bahrain and representatives from 32 Arab states were in Cebu recently to explore business opportunities in the province, as well as invite Cebuano capitalists to invest in the Middle Eastern territories.

The recently concluded Roadshow which was held in Cebu, Manila, Davao and other major cities in the Philippines was the first biggest venture on interconnecting the Philippines, Bahrain and other member countries of the Gulf Cooperation Council (GCC) that consists of Saudi Arabia, Kuwait, Qatar, UAE, and Oman, to facilitate the development and advancement of their economies.

Capoy added that the upcoming business summit to be held in Bahrain in April this year, also aims to promote mutual trade relations between the Philippines, while there are strong interest from Arab  countries to invest in the Philippines and partner with Filipinos, as well as opportunities for Filipinos to invest in Bahrain and the member countries of the GCC.

Middle Eastern investors are now looking at putting their money to other continents especially Asia.

In the Philippines, Middle Eastern capitalist are most likely to invest in infrastructure, agriculture, marine products, among others.

Bahrain rank first out of 17 countries in the Middle East/North Africa (MENA) region, and its economic freedom score is well above the world average. In a region experiencing an oil boom, Bahrain has the fastest growing economy in the Arab world.

BWES and BWES-Phil Inc., have collaborated together with other partner organizations such as United Nations Development Organization (UNIDO)- Bahrain, Bahrain Ministry of Industry of Commerce, Bahrain Ministry of Interior- customs affairs, Bahrain chamber of commerce and industry, Bahrain Economic Development Board, in cooperation with Great Adventures and concept@work. (FREEMAN)