Australia Philippines economic outlook, inilunsad ng Australia Philippine Business Council

Annalyn 'Apol' Mabini | TFC News Australia

Posted at May 24 2022 11:00 AM | Updated as of May 24 2022 01:33 PM

BRISBANE, QUEENSLAND – Inilunsad ng Australia Philippine Business Council o APBC ang “Australia Philippines Economic Outlook,” isang business at networking function na nakatutok sa future trade at investment dynamics sa pagitan ng Australia at ng Pilipinas noong May 12, 2022 sa Brisbane, Queensland sa Australia. 

“The Philippines has been growing at an average of more than 6% prior to the pandemic and we expect this growth to be intact in 2022 but higher energy and food prices are impacting inflation. Meanwhile, a Marcos presidency will unlikely impact foreign investment noting that local businesses are more skeptical,” pahayag ni Macquarie Bank Wealth Management Director Martin Lakos. 

Ayon pa sa APBC ang 5.6% GDP growth ng Pilipinas noong 2021 ay nagpapakita ng economic recovery at pagbawi ngayong 2022. Nag-expand din ang PH economy ng 8.3% year-on-year sa first quarter ng 2022 sabi naman ni Philippine Trade Representative to Australia Alma Argayoso na kanyang ibinase sa datos mula Philippine Statistics Authority o PSA.  

“There’s a lot going for investors looking for long-term opportunities in the Philippines post-pandemic and post-elections. We have a large domestic market of 110 million people with rising middle income and excellent trade options both within Asia and beyond… 

We have a wide network and superior Free Trade Agreements (FTAs) with our major trading partners including Australia and New Zealand through AANZFTA. This means that the Philippines is a natural choice for foreign companies looking at relocating or establishing their operations overseas that is accessible to key global markets such as the ASEAN, EU, and the US, as these countries have preferential tariff agreements with the Philippines,” dagdag pa ni Argayoso.  

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(left) Macquarie Bank Wealth Management Director Martin Lakos | (right) Philippine Trade Representative to Australia Alma Argayoso

Patuloy naman ang pagsuporta ng APBC, kung saan miyembro ang ABS-CBN Global mula 2021-2022 sa mga kumpanyang Australian na naghahanap ng cross-border trade at investments sa pagitan ng Pilipinas at Australia.  

“The history of APBC dates back to 1975…Throughout these years, APBC has been the foremost private sector organization dedicated to generating business opportunities, providing insights, contacts and information exchange between the two countries,” ani APBC President Rene Cabrera.  

“We are here to help, and our members and stakeholders can rest assured that we will be working constructively with whoever is sworn in as the new leader, either in the Philippines or Australia,” dagdag naman ni APBC Vice-President for Queensland Rafael Toda.