Philippines- Australia trade relations

    591

    The trade and investment partnership between Australia and the Philippines is on the way up. With a 300,000 strong Filipino community in Australia and 34 direct flights per week, Australia is a prime destination for tourism, education and training. More Filipinos studying overseas choose Australia as their study destination than any other country, with over 20,000 Filipinos currently studying at universities and technical colleges down under.

    A number of these global Australian companies are showing their support for this year’s Australia Day celebration, and are helping to make the event a success. These include ANZ Bank, Austal, Crone, GHD, Greenstone, Leighton Asia, Macquarie, Oceanagold, Orica, Prime Metro BMD, Qantas, QBE, Site Skills, Telstra, TWPS, and Wine Brothers.

    Philippine companies are also taking advantage of investment opportunities, with a number of major Philippine conglomerates investing in Australia to secure their supply chain and access advanced products and technology.

    The ASEAN Australia NZ Free Trade Free Trade Agreement (AANZFTA) has opened the doors to exporters from both countries, with two-way trade in goods and services between Australia and the Philippines reaching A$4.8 billion – a 70% increase since 2010.

    The complementary nature of the Philippine and Australian economies and their geographic proximity have supported the growth across priority such as food and beverage, infrastructure, and services.

    Australia and the Philippines are collaborating to drive the Philippines’ digital transformation agenda and to boost the competitiveness of its private sector. This includes knowledge and technology transfer as well as institutional partnerships in science and disruptive technologies.

    There are more than 300 Australian companies in the Philippines significantly contributing to the country’s socio-economic growth. Together, they directly employ over 40,000 Filipinos, contribute to local taxes, purchase local materials, goods, and services.

    Embracing local talent, these companies are continuing to invest in specialised training and to develop globally competitive technology and services solutions.

    A number of these global Australian companies are showing their support for this year’s Australia Day celebration, and are helping to make the event a success. These include ANZ Bank, Austal, Crone, GHD, Greenstone, Leighton Asia, Macquarie, Oceanagold, Orica, Prime Metro BMD, Qantas, QBE, Site Skills, Telstra, TWPS, and Wine Brothers.