Filipino businesses go global through China
To be frank I did not know about the Shanghai fair that will open world markets to Filipino businesses. It will be held from Nov. 5 to 10. The first in history where a country has organized a platform inside her country for foreigners to sell to her own market!
Unfortunately, this event and the opportunities it presents were not given the widespread importance that it should have had. Many more Filipino businesses should have been informed and how to be part of it.
There were some groups who helped like Bank of China Manila Benjamin Min, Commercial Counsellor of the embassy of the People’s Republic of China in the Philippines Jin Yuan, DTI-CITEM Executive Director Pauline Suaco Juan, DTI-EMB Director Senen Perlada, and the Federation of Chinese Chamber of Commerce and Industry Inc. (FFCCCII) and ANVIL Business Club but it needed more public information (the way we do to beauty contests.)
George Siy shared insights and advice at the predeparture capacity-building workshop held on Oct. 25, to prepare some 250 Filipinos and 36 business exhibitors. Today, global developments largely driven by the Asian economic dynamism provide unprecedented opportunities for the Philippines, if we know how to capitalize and ride on the wave.
Societies are more vibrant and stable because of trade, commerce, and industry. The event was introduced by President Xi Jinping in May 2017. More can be done by the private sector for Philippine business to enter China.
Among those who are quietly spreading the opportunities for a worldwide market are the FFCCCII, Anvil Business Club, and think-tank Integrated Development Studies Institute (IDSI). They are available for assistance for those who are interested.
The Shanghai market exhibition will cover 100 countries with both buyers and sellers spanning over 240,000 square meter of exhibition space.
There are already over 300,000 Chinese buyers and 2,000 foreign sellers registered.
I am told the promotion of world trade by the host country as buyers is unprecedented. Amidst the US’ downgrading its role in the global economy and initiating trade war and embargoes worldwide, packaged in the so-called America-First Policy, China is creating platforms for the rest of the world to link not only to the China market but to each other.
This thanks to the leadership of President Duterte who has expanded relations with China, the Philippines was invited, among only a handful of countries, to set up a booth in the National Pavilion hall to promote the country’s investment and tourism programs. In addition, exhibition spaces were allocated in the Business Halls at preferential rates for our Filipino entrepreneurs who will not only have the opportunity to do business with China but also with the foreign exhibitors present.
“We want to be there, but we must also do it right to maximize the business generation to be had,” according to Wharton-educated Integrated Development Studies Institute Director George Siy, whose presentation in the capacity workshop “How to Win Deals Like the Chinese” provided practical insights for the Filipino exporters.
Siy advised the audience to improve their packaging, protect their brands, and find reputable and tested partners. He also presented the more nuanced picture of China, displaying maps that showed the country equivalent of China’s provinces, for instance the GDP of the Philippines is about the size of Beijing and the population about the size of the southeast province Guandong! Perhaps his most enlightening tip for the outbound entrepreneurs is to consider expanding their businesses in other markets beyond China, for example in ASEAN as these countries have more similar marketcharacteristics like ours.
Companies from other countries, including the United States, France, Germany, and Japan have already signed up for next year’s event. The Philippines should follow suit and start early.
When Philippine companies showed interest, DTI and China’s trade ministry helped secure around 40 exhibitor spaces more for the Philippines companies .... not ideal, but not just the limited spaces inaccurately spread by some. In addition, almost a dozen Philippine universities, led by CHED, will be showcasing our education offerings at the Expo.
The expo provides a platform not only for trade but for our tourism, agriculture, and service sector. Globally known as one of the most creative people, we should also promote our creative industry, a signature advocacy of DTI-CITEM Executive Director Pauline Suaco Juan.
China friends since a decade back have been encouraging us to develop more non-traditional, highervalue added products and packaging. Opportunities for Philippine agriculture, tourism, and service industries abound, if we focus more on expanding and upgrading our offerings.
MISCELLANY: I am glad that George Ty has bagged the ‘Bossing’ lifetime achievement award. My late husband’s family the Pedrosas were long time friends of George Ty when he was just beginning his lumber business. He would relate to my father-in-law, Don Pio Pedrosa, then Minister of Finance how bankers would make him wait before he would be allowed to see the top bankers. My father- in- law said to George “open your own bank” and that is what he did. Today Metropolitan Bank and Trust Company (PSE: MBT), commonly known as Metrobank, is the second largest bank in the Philippines.
“Our Bossings are living proof that there are no shortcuts when it comes to success. It is my fervent wish that their stories inspire and empower Filipino entrepreneurs to pursue excellence and ambition, without sacrificing their integrity – the traits of a true Bossing,” PLDT chairman and CEO Manny V. Pangilinan said. PLDT Enterprise is the B2B arm of PLDT, the country’s leading ICT and digital services provider.
Shipping magnate Doris Magsaysay-Ho, president and CEO of A. Magsaysay Inc., was also recognized as the Grand MVP Bossing Awardee.