Through its new Asia trade strategy: Raising Our Game in Asia, B.C. is poised to strengthen its economic ties to the region
British Columbia is heightening its presence in the fast-growing Southeast Asia region by opening a trade representative office in the Philippines early next year. The expansion of B.C.’s presence into the Association of Southeast Asia Nations (ASEAN) is part of the Province’s new Asia trade strategy Raising Our Game in Asia
The strategy recognizes the momentous opportunities for increased trade in Asia, and specifically, in the ASEAN region, which is home to five of the world’s 20 fastest growing economies – the Philippines, Indonesia, Malaysia, Thailand and Singapore. B.C.’s competitive advantages in sectors such as Clean Technology
could greatly support and enhance ASEAN’s growth.
The opening of the Philippines office coincides with ASEAN’s launching of its own economic association in early 2016, the ASEAN Economic Community. The region is already the third largest economy in Asia, with 600 million people and a combined GDP of more than US$2.3 trillion. It is also B.C.’s fifth largest destination for export products.
With a GDP growth forecast of 6.3% in 2016, the Philippines is ASEAN’s fastest growing economy. Since the launch of the BC Jobs Plan in 2011, exports to the Philippines have grown 48% making B.C. the largest provincial exporter with 41% of national exports in 2014. A trade office representation there will further help B.C. companies seize market opportunities in the country as well as in the larger ASEAN Economic Community.
This will be B.C.’s 12th international trade representative office
. Other locations include China, Japan, Korea and India. Trade and investment representatives (TIRs) around the world work with the Ministry of International Trade
’s team of specialists in British Columbia to help B.C. businesses further their overseas presence. They also help international business discover what B.C. has to offer and the benefits of B.C. as a destination for investment.
If you are looking to expand a B.C. business internationally or partner with B.C. businesses, our team of specialists can help you connect with trade experts, local contacts, and potential clients through these services
Contact our team