The government of New South Wales has expressed confidence in the Philippine economy and seeks to strengthen trade and investment cooperation ties between Manila and the eastern Australian state, the Department of Trade and Industry (DTI) said on Monday.
In a statement, DTI said New South Wales Premier Gladys Berejiklian met with Trade Secretary Ramon Lopez on December 7 and conveyed her government’s intention to enhance its relationship with the country.
New South Wales imports telecommunication equipment and parts, passenger motor vehicles, medicaments or substances used for medical treament, refined petroleum and computers.
“We welcome Australian investors and businesses that will help us uplift the lives of those at the bottom of the pyramid and enable the Philippines to contribute in the global value chain,” Lopez said.
“New South Wales has expressed strong confidence in our economy and the business environment stability under the Duterte administration and wish to partner with us,” he added.
The trade chief highlighted the growing manufacturing sector and encouraged New South Wales to partner with the Philippines in research and development.
He also shared the government’s initiatives in streamlining and automating services to improve doing business in the country.
“We will continue to work on opening areas of investment and increase employment and business opportunities for all Filipinos,” Lopez said.
Berejiklian said many Australian businesses, especially in the information and communications technology (ICT) sector, are attracted to the Philippines’ encouraging economic state and enormous potential.
She said that, besides the country’s impressive 6.9-percent gross domestic product (GDP) growth, the Filipino workforce also has good traits and work culture.
