Private sector adds new business leads from PBBM Japan trip

    The private sector reported they generated $620.72 million and $22.67 million in trade and investment leads from their business matching sessions during President Ferdinand R. Marcos Jr.'s official working visit to Tokyo, Japan in February this year.   The Department of Trade and Industry’s field office in Japan led by Commercial Counselor Dita Angara-Mathay reported the figure based on submitted reports by private sector participants. The new figure is on top of the more than $13-billion big-ticket deals signed during the visit.       The trade and investments potentials were generated from the 600 business matching meetings during the visit participated by 118 companies from the Philippines and 597 companies.   Companies involved during the business matching event were from manufacturing, construction and infrastructure, real estate, communication and information technology, and energy, among others.     Business matching is part of the ongoing initiatives of DTI, Foreign Trade Service Corps (FTSC) Coordinating Office, the Export Marketing Bureau (EMB), and the ASEAN – Japan Centre (AJC).      “There is evidently a growing momentum in the Philippines and Japan trade and investment relations,” said Angara-Mathay.   During the business matching event, which to date is the largest in the history of presidential trips overseas, both government and the private sector acknowledged that there are rising opportunities for economic engagement in areas that are critical to national priorities.   “In order to pursue our strategy of investment led export growth, we need to actively seek out platforms that promote exchange between our expanding networks,” she said.  (Bernie Cahiles-Magilat)   In 2022, Japan ranked as the Philippines  2^nd trading partner, 2^nd  export market, and third  import supplier.