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17 March 2020 - H.E. Raul S. Hernandez, Ambassador of the Philippines to Turkey, met with Mr. Hasan Basri Acar, President of the Independent Industrialists’ and Businessmen’s Association (MUSIAD) Ankara at its headquarters on 13 March 2020.

Ambassador Hernandez said that commercial relations remain below potential with significant room for growth. Ambassador Hernandez briefed MUSIAD on the priority sectors for closer cooperation identified in the Philippines-Turkey Joint Committee for Economic and Technical Cooperation including construction, manufacturing, energy, agriculture, tourism, automotive, aerospace, pharmaceuticals, science and technology and SME development.

Ambassador Hernandez also invited MUSIAD to invest in the Philippines due to its large population, growing consumer market and new legislation that makes the country more attractive to foreign investors. The Ambassador also mentioned that investing in the Philippines will serve as Turkish companies’ entry point and gateway to the ASEAN market with duty free entry to China, Korea, Japan, Australia, New Zealand and India. PH has access to the European market through the European Union-General Scheme of Preferences and the American market as a US GSP beneficiary.

Mr. Acar agreed to co-organize a one-day seminar on the Philippines to include a presentation on business opportunities and the current investment climate in the Philippines for MUSIAD members. Mr. Acar is ready to host a business delegation from the Philippines for company/site visits and B2B meetings. MUSIAD is a non-government organization with more than 11,000 members representing close to 60,000 businesses employing 1.6 million people in Turkey. END.

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