Spain expects exports to the Philippines to grow by 15 percent to 20 percent in 2016, as more Spanish companies are expected to establish presence in the country.
Spanish embassy economic and commercial counselor Enrique Feas said major Spanish construction companies were watching the developments of the public-private partnership projects in the Philippines, with a goal of participating in future projects.
"Of the top ten construction companies in the world, five Spanish firms are on the list. Our companies are experts in the building of railroads, highways and airports. We are expecting more construction firms to come over and [have] more concessions," Feas said Wednesday on the eve of Madrid Fusion Manila at the SMX Convention Center in Pasay City.
Two top Spanish engineering and construction firms-Obrascon Huarte Lain and Acciona Infraestructuras-are already in the Philippines with ongoing PPP projects.
Services comprise about a fourth of the total exports of Spain to the Philippines out of 400 million euros worth of exports.
Feas also said that outside Spain, the Philippines was the biggest importer of brandy.
"The Philippines imports large amount of wines, brandy and sherry. In fact, in 2015, the Philippines brought in from Spain about 150 million euros worth of alcoholic beverages," he said.
The embassy said with the European Union trade preferential scheme in place, Spain expanded its exports to the Philippines with the recent addition of good quality ham.
The Philippines is also fortifying its export line to Spain. Last year, it exported 300 million euros worth of agricultural products, electronic parts and chemicals to Spain.
Spain is also a player in the information technology sector with Indra Sistemas SA and in alternative power generation with Gamesa Corp. Tecnologica SA.
Spainbrought in 14 companies engaged in wine and brandy manufacturing as well as other food companies to Madrid Fusion Manila 2016.
The event opens Thursday, with the theme "The Manila Galleon : East meets West".
The Philippines is positioning Madrid Fusion Manila as the next most popular gastronomic event in Asia and in the world.
Source: The Standard