PH urged to boost exports to Qatar

Exportation of more products could enhance bilateral trade between the Philippines and Qatar.

During the two-day business matching session in Doha, Qatar that concluded on Thursday, Philippine ambassador to Qatar Lillibeth Pono said 2021 annual bilateral trade between Qatar and Philippines was around US$224 million, of which $46 million were exports from the Philippines.

there are lots of challenges for them to be able to access bank financing because there are already regulations dito sa sa banko before they can lend you money because as a part of it the risk would be covered so they require collaterals and it could be more than the amount you are borrowing,” Felizmenio said.

“For the crowdfunding intermediaries for business as long as you are willing to impart information, disclose information you may qualify to be accepted for financing into these crowdfunding intermediaries,” Felizmenio said.

Pono said this gap in the balance of payment in favor of Qatar can be minimized considering an International Trade Center report citing the Philippines has the potential to increase its exports of food and agro-based products to Qatar by over USD19 million.

“These are not only trade of products in Qatar market, it is promoting of great name of Philippines in this region,” she said.

The envoy added that Philippine products meet global standards of quality therefore, these are marketable and can stand with the dynamics of ups and down in the global trade of economic environment.

Pono said Filipino products and personal health care are not just for Filipinos and Asians but these also cater to the taste of all other cultures, noting enormous opportunities to enhance trade between both the countries.

She said Qatar ranks 41st among the trade partner of the Philippines. Qatar is home to over 260,000 Filipinos and large number of other Asian expatriates that means a substantial size of Qatari population has similar taste.

In the same event, Foreign Trade Service Corps (FTSC) Assistant Secretary Glenn Peñaranda thanked the ambassador for her presence and support to the visiting delegation and the Philippine products.

Peñaranda said his delegation was not visiting just to trade their products but also pursue mutually beneficial business relationship.

He said the Philippines is blessed with fertile lands, rich and diversified marine resources and highly skilled manpower, as it aims to serve mainstream market of Qatar.

Peñaranda headed the 14-member Filipino exporters’ delegation to the business matching event in Qatar organized by the embassy of Philippines in Qatar, in collaboration with the Philippine Department of Trade and Industry.