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Manila Bulletin devider Business devider Trade & Industry devider PH generates $59 M sales, pledges at Canada summit

PH generates $59 M sales, pledges at Canada summit

Published Oct 13, 2023 05:43 am

The Philippines generated $55.8 million in sales revenue, contracts and foreign direct investments (FDI) from the recently-held External Development Summit (XDS) 2023 in Vancouver, Canada, according to the Department of Trade and Industry (DTI).

The DTI said Friday, Oct. 13, that from game development companies’ participation alone, the country earned $6.5 million in sales from the summit. The agency featured game development companies such as Pixel Mafia, GameOps Inc., Synergy88, Animation Vertigo, and Neun Farben Corporation at the Philippine Pavilion exhibition during the September event.

The Philippines’ participation in the summit also garnered $14.3 million worth of contracts under negotiation, and $35 million worth of direct investments, through the DTI Competitiveness and Innovation Group (CIG), Export Marketing Bureau (EMB), Philippine Trade and Investment Center (PTIC) – Silicon Valley, Game Developers Association of the Philippines (GDAP), and the International Trade Center (ITC) ARISE Plus Philippines.

In 2022, bilateral trade between the Philippines and Canada reached $1.49 billion. Canada was ranked as the Philippines’ 20th trading partner out of 231, 17th export market out of 213, and 20th import supplier out of 216.

During the summit, DTI engaged in several key meetings and events, including a meeting with Consul General Arlene Magno of the Philippine Consulate General in Vancouver, and game studios such as Electronic Arts, Lionbridge Games, Atomic Cartoons, and Free Rang Games.

They explored opportunities for cooperation and synergy between the Philippine and Canadian markets, with a focus on promoting the Philippine Creative Industries.

In her opening message, DTI-CIG Undersecretary Rafaelita Aldaba highlighted the Philippines' efforts to establish itself as an international video game development hub, emphasizing the global market's competitiveness.

“We capitalize on outbound services that generate export income, while simultaneously creating inbound sources of investment and transfer of expertise as part of our long-term strategy,” she said.

Further, Aldaba emphasized the importance of Filipino creativity, innovative IP products, and services in the global value chain, embracing digital technologies for competitiveness.

For her part, EMB Director Bianca Pearl Sykimte said that the DTI wants “to provide an enabling environment and provide our local game industries a platform to showcase their capabilities both at the industry and firm level.”

The delegation also discussed potential partnerships with the Philippines-Canada Trade Council (PCTC), a non-governmental association that aims to enhance economic ties between the two countries, particularly in innovation, startup development, and creative industries.

Moreover, DTI collaborated with the Philippine Consulate General in Vancouver to host the "Building Bridges: Philippines & Canada Creative Sector Networking Night." which served as a platform for creative professionals to connect, collaborate, and explore trends in the creative economy, featuring speakers from both the Philippines and Vancouver.

DTI also engaged with XDS and Creative BC to share insights on the current landscape of the creative industry during the exhibition at the Philippine Pavilion.

Established in 2013, the External Development Summit (XDS) is the only annual international games industry event with a primary focus on external development for art, animation, audio, software engineering, QA, and localization.

The event gathers hundreds of international attendees from over 45 countries to advance the practice of external development for the games industry with three days of structured networking.
 

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