The Department of Trade and Industry has explored opportunities of Macau as a market for processed food products.
At the recently held outbound business mission in Macau, Filipino food companies were able to meet with officials from 14 supermarkets that resulted in serious interests of sourcing calamansi juice/concentrates and other ethnic food products. Among the notable companies that the participants met were: Walmart, Chinoy Supermarket, Nam Wan Wu Entertainments and Catering Services, and Northward Industry Macau, Ltd.
Macau presents several advantages for Philippine food products. These advantages include proximity to the Philippines and the growing number of Filipinos who work in the tourism-related industry of Macau.
Macau is positioning itself as one of the main convention and exhibition and gaming centers in the South China Sea. Five Philippine companies also displayed their products in the Macau International Fair (MIF). There were two booths that were provided by Investment Promotion Institute of Macau (IPIM).
Philippine products that were displayed included dried fruits, banana chips, calamansi juice/concentrates, snack food, fruit preserves, processed milkfish, processed/dried cuttlefish, and anchovies, fruit wine and lambanog. The calamansi juice and concentrates, dried mango, banana chips, fish crackers, and hopia were very popular among buyers and visitors of the Philippine booth.
The OBM was also an opportunity to present the Philippines as an attractive investment area.
Through the efforts of the DTI, the Philippine Consulate Office in Macau and the Macau Trade and Investment Promotion Institute, the DTI representatives of the delegation made a presentation on the investment opportunities in the Philippines. As significant as the business opportunities gained from the one-on-one business meetings and the presentation in the Macau International Fair, the OBM also gave the delegation members the opportunities to learn in detail about the Macao market. The information would be useful for exporters in drawing strategies for future promotion activities.
The Philippine participants learned that the Macau market has remained mainly untapped, despite its proximity to the Philippines, in the retail, wholesale and ready to consume product segments.
However, exporters should conduct follow-through deeper studies on the intricacies of the market. Since Macau is a free port, entry requirements of goods are minimal. No specific duties are levied on imported products. However, exporters must still follow the principles of food safety and labeling.
The delegation also learned of the huge potential for Philippine manpower and construction services because of the infrastructure projects being undertaken. OBM delegation members were one in saying that Macau is a market that is worth tapping and that follow-up export promotion activities be undertaken.
It was recommended that in-store promotion be conducted, continued relationship building by the Philippine commercial attachés with chamber of commerce and industry be continued and enhanced, and a follow-through in-bound business matching where businessmen in Macau will be invited to pre-arranged business matching with their Filipino businessmen be done.
In 2008, Macau moved to 68th slot as a Philippine trading partner. Bilateral trade between the Philippines and Macau amounted to $ 27 million in 2008. Exports to Macau went down by 1.73 percent from $ 8.27 million in 2007 to $ 8.13 million in 2008, making Macau as the 72nd largest export market.
On the other hand, Macau ranked as the Philippines' 60th biggest supplier of imports.
Top Philippine exports in 2008 consisted of aviation fuel, $ 1.79 million or 21.98 percent of total export receipts; gambling equipment and paraphernalia, $ 1.07 million or 13.19 percent; liquefied petroleum gas which accounted for $ 886,000 or 10.89 percent; unsweetened biscuits, $ 623,000 or 7.66 percent; and Lapu-lapu fish, $ 448,000 or 5.51 percent.
Major Philippine imports consisted of equipment for parlor, table and funfair games (33.47 percent), parts and accessories for office machines (14.55 percent); parts for mahjong, chess, checkers and similar games (12.11 percent); other medicaments (10.42 percent); and pin tables, slot machines and the like (9.14 percent). – Positive News Media Philippines
~ January 30, 2010
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