By Peter Alagos/Business Reporter
Bilateral merchandise trade between Qatar and the Philippines reached $652mn in 2014, Philippine Ambassador Wilfredo Santos told Gulf Times.
Despite a drop in the total trade worth the $1.047bn recorded in 2013, Santos said exports in 2014 saw a 10.25% growth to $22.6mn from $20.5mn over the same period last year.
But the ambassador said he remains optimistic that the increase in Philippine exports to Qatar is an indication of the viability of Filipino products in the country.
“Despite the fact that there was a decrease in the trade figures between the Philippines and Qatar from 2013 ($1,047,718,216) to 2014 ($652,359,321), it should be noted also that Philippine exports to Qatar increased from $20,566,922 to $22,674,537. This is a promising sign that Qatar can be a viable market for Philippine exports,” Santos explained.
He added that while 95% of Philippine exports to Qatar are food products, there is an opportunity to maximise the sudden increase in the export of aeroplane and helicopter parts. “There was also a sudden spike in the export of aeroplane and helicopter parts, which could be further harnessed for this year,” Santos said.
The ambassador said bananas, including plantains, fresh or dried, topped the list of exported commodities this year, but saw a 10.25% decline from $5.7mn in 2013 to $4.01mn in 2014.
However, ice cream and other edible ice saw a 79.39% growth to $367,346 this year from $204,780 over the same period in 2013. Similarly, sausages, similar meats, and food preparations based on these products increased by 77.25% to $468,266 in 2014 against $264,177 recorded in 2013.
“This increase in Philippine exports is mainly attributed to food products, which can be explained by the huge Filipino population in Qatar, estimated around 200,000 that already serves as a captive market for such products,” Santos said.
On the other hand, products imported from Qatar include petroleum oils and oils obtained from bituminous minerals, crude; polyethylene in primary forms; urea; liquefied butanes and propane; other polymers of ethylene in primary forms; unwrought aluminium alloys; polypropylene in primary forms; bottles, flasks, jars, pots, phials, and other containers, among others.
Earlier, Santos said issues on the reciprocal protection of investments should be resolved first in order to boost investments and strengthen trade relations between the two countries.
He also emphasised the need to work out a memorandum of understanding (MoU) to bring more Qatari investments to the Philippines.
Santos: 200,000-strong Filipino population serves as a captive market in Qatar.
