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Philippines

EDC Position-open all programs

EDC's Position

  • Key EDC Market
  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of Philippines
Map of Philippines

Country Facts

Nominal GDP284.58 Billion USD
Population100.10 Million
Total Trade/GDP60.57%
CurrencyPhilippine Peso (PHP)
Merchandise Imports from Canada569.54 Million CAD
Main importsCapital Goods, Mineral Fuels, Chemicals, Manufactured Goods

EDC in Philippines

Canadian companies assisted114
International buyers insured279
Business volume250 Million CAD

Business Environment

The present regime under President Benigno Aquino III has demonstrated its commitment to foster a business friendly environment by focusing on fighting corruption and introducing reforms such as lowering the corporate tax rate and reducing the time and cost of trade by improving electronic customs systems. Restrictions on foreign equity ownership in certain sectors remains and the complexity of public bureaucracy must be taken into consideration when doing business in this market. Infrastructure deficit is being addressed as evidenced by a number of airports, expressway, mass and light railway transit projects being proposed by the government. Canadian companies looking to capitalize on these opportunities are advised to identify and collaborate with strong local partners.

Key Industries

  • Advanced Security
  • Aerospace
  • Agriculture
  • Construction & Infrastructure
  • Environmental Infrastructure & Waste
  • Telecom

How we can support your business

Through its representation in Singapore, we provide regional support to Canadian companies planning on or currently doing business in the Philippines. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market.

  • We are well positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.
 

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