Australia seeks to expand trade ties with the Philippines

Australia is looking to further expand its two-way trade with the Philippines this year even as the trade between the two countries continues to increase at a fast rate. There are already 200 Australian companies operating in the Philippines and employing over 30,000 Filipinos in several sectors, including the business process outsourcing (BPO) industry. A number of Philippine companies, including San Miguel Corporation and Monde Nissin, are also doing business in Australia. Australian Ambassador Amanda Gorely said trade between Australia and the Philippines is at USD4.2bn and increasing fast at the rate of 10% over the past five years. Gorely earlier said Australian companies are looking at investing in the Philippines in the sectors of BPO, telecommunications, energy, and mining.