Economic and commercial relations between Turkey and the Philippines were discussed between Ambassador Maria Elena P. Algabre and officials of the Union of Chambers and Commodity Exchanges of Turkey (TOBB). (TOBB Photo)

ANKARA 24 September 2021 – “The best way to foster greater trade and investment relations between two countries is to bring their businessmen together,” agreed Philippine Ambassador to Turkey Maria Elena P. Algabre, and the President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Mr. Rifat Hisarcıklıoğlu,  at their meeting in Ankara, Turkey, on 24 September 2021. 

Ambassador Algabre encouraged the TOBB President and his members to consider expanding commercial ties with the Philippines. Mr. Hisarcıklıoğlu was briefed on the Philippines’ attractive investment climate and the initiatives taken by the government to liberalize legislation to further attract foreign investors. Ambassador Algabre   also cited the Philippines’ large market with a population of over 100 million and a growing middle class, similar to those of Turkey, thereby offering many opportunities for trade exchanges between the two countries.

Ambassador Algabre and Mr. Hisarcıklıoğlu discussed trade and investment relations between the Philippines and Turkey,  and possible ways to maximize the engagement between commercial entities of both countries.

Ambassador Maria Elena P. Algabre and TOBB President Rifat Hisarcıklıoğlu (TOBB Photo)

TOBB is the highest legal association representing Turkey’s private sector with 365 chambers and commodity exchanges,  with a membership consisting  of around 1.5 million companies. It also established the TOBB University of Economics and Technology,  and a think-tank focusing specifically on economic issues.##