A Study on the Trade Relationship of the United States, Australia, Canada

and Middle East to the Philippines’ Imports and Exports

Conducted by:
Gernette Y. Condez
 Chapter 1. Introduction
1.1 The Economy of the Philippines
1.1.1 Economic and Policy Developments
The Philippines was one of the region's top three development performers in 2017.Much
more has been achieved by Vietnam and China. The Philippine economy grew year-on-year from
6.9% in 2016 to 6.7% in 2017. Growth was rooted in strong exports, while growth in investment
slowed considerably and growth in consumption moderated. The Philippines’ annual exports
rose sharply in 2017 and became the main engine of economic growth, while imports continued
to grow by double-digits. Investment growth slowed in 2017, following two consecutive years of
rapid expansion, and climbing inflation slowed real wage growth and contributed to a
moderation in private consumption growth.
Sustained economic growth is likely to continue to contribute to poverty reduction. Under
the assumption that the responsiveness of the poverty rate to economic growth follows historical
trends, the poverty rate, based on the lower middle-income poverty line of US$3.20/day, is
projected to decline from 27.0 percent in 2015 to 22.9 percent and 21.7 percent in 2018 and
2019, respectively, as economic growth remains robust. These projections would imply a
continuing trend of one million Filipinos being lifted out of poverty each year. Factors that have
been driving poverty reduction in the Philippines include the movement of employment out of
agriculture, a sustained inflow of remittances, and the government’s conditional cash-transfer
program.
1.1.2 Prospects and Risks
The country’s medium-term growth outlook remains positive. The Philippine economy is
projected to continue on its expansionary path and grow at an annual rate of 6.7 percent in both
2018 and 2019. In 2020, growth is expected to level at 6.6 percent. The economy is currently
growing at its potential, making productive investment in physical and human capital essential so
that the economy can continue to grow along its current growth trajectory. Investment growth
hinges on the government’s ability to effectively and timely implement its ambitious public
investment program. Moreover, the government needs to clarify the role of the private sector in
its investment program.
Domestic risks are becoming more prominent. Inflationary pressure is expected to
intensify due to both domestic and external factors. The Philippine economy is also at risk of
overheating. The implementation of the public infrastructure program is vital to the country’s
growth outlook, as private investment is expected to weaken. Prudent fiscal management and the
implementation of the government’s tax reform agenda could help secure the country’s fiscal
sustainability. External risks remain present, especially a faster-than-expected policy
normalization in advanced economies that could trigger financial volatility and increase capital
outflows from the Philippines. Renewed protectionist sentiments in several advanced economies
will also elevate policy uncertainty, which may disrupt trade and investments.
 Higher real wages are essential to achieve shared prosperity and inclusive growth. In
recent years, the Philippine economy has made great strides in delivering inclusive growth,
evidenced by the declining poverty rates and a falling Gini coefficient. Unemployment has
reached historic low rates, but underemployment remains high, near its 18-20 percent decade-
long average. More importantly, unlike its high-performing East Asian neighbors with booming
manufacturing sectors that provide large numbers of labor-intensive jobs, a majority of Filipino
workers that transition out of agriculture generally end up in low-end service jobs. Thus, while
employment increased between 2006 and 2015, mean wages remained stagnant, with only a four
percent increase in real terms over the same period. Low job quality and slow growth of real
wages are the missing links to higher shared prosperity.
1.2 Top Goods Exported from the Philippines
Primary exports include semiconductors and electronic products, transport equipment,
garments, copper products, petroleum products, coconut oil, and fruits. The Philippines has been
named as one of the Tiger Cub Economies together with Indonesia, Malaysia, Vietnam, and
Thailand. It is currently one of Asia's fastest growing economies. However, major problems
remain, mainly having to do with alleviating the wide income and growth disparities between the
country's different regions and socioeconomic classes, reducing corruption, and investing in the
infrastructure necessary to ensure future growth.
1.2 Macroeconomic Trends

Source: The Government of the Republic of the Philippines – Investor Relations Office

Chapter 2. The Trade Relationships of the Philippines with:

2.1 The United States

2.1.2 US-Philippine Relations

The United States and the Philippines have had a very close trade relationship for more
than a hundred years. They meet regularly with the Philippines under the auspices of the 1989
bilateral Trade and Investment Framework Agreement (TIFA) to address outstanding bilateral
issues and coordinate on bilateral, regional, and multilateral issues. Under the TIFA, the United
States and the Philippines also have signed agreements on customs administration and trade
facilitation (2010), cooperation on stopping illegal transshipments of textiles and apparel (2006),
and implementation of minimum access commitments by the Philippines (1998).
 In 2018, Philippines GDP was an estimated $330.8 billion (current market exchange
rates); real GDP was up by an estimated 6.2%; and the population was 107 million. (Source:
IMF) U.S. goods and services trade with the Philippines totaled an estimated $29.6 billion in
2017 (latest data available). Exports were $11.5 billion; imports were $18.1 billion. The U.S.
goods and services trade deficit with the Philippines was $6.7 billion in 2017.
The Philippines is currently their 31st largest goods trading partner with $21.3 billion in
total (two way) goods trade during 2018. Goods exports totaled $8.7 billion; goods imports
totaled $12.6 billion. The U.S. goods trade deficit with the Philippines was $3.9 billion in 2018.
Trade in services with the Philippines (exports and imports) totaled an estimated $9.5 billion in
2017 (latest data available). Services exports were $3.0 billion; services imports were $6.5
billion. The U.S. services trade deficit with the Philippines was $3.5 billion in 2017 (latest data
available).
According to the Department of Commerce, U.S. exports of Goods and Services to the
Philippines supported an estimated 58 thousand jobs in 2015 (latest data available) (42 thousand
supported by goods exports and 16 thousand supported by services exports).
Trade Balance
The U.S. goods trade deficit with the Philippines was $3.9 billion in 2018, a 22.5%
increase ($716 million) over 2017. The United States has a services trade deficit of an estimated
$3.5 billion with the Philippines in 2017 (latest data available), up 0.5% from 2016.
Investment
U.S. foreign direct investment (FDI) in the Philippines (stock) was $7.1 billion in 2017, a
12.5% increase from 2016. U.S. direct investment in Philippines is led by manufacturing,
wholesale trade, and professional, scientific, and technical services.
Philippines FDI in the United States (stock) was $750 million in 2017, up 1.4% from
2016. Sales of services in the Philippines by majority U.S.-owned affiliates were $4.2 billion in
2016 (latest data available), while sales of services in the United States by majority Philippines-
owned firms were $34 million.
2.1.2 Top Exports from the USA to the Philippines
The Philippines was the United States' 32nd largest goods export market in 2018. U.S.
goods exports to the Philippines in 2018 were $8.7 billion, up 3.0% ($256 million) from 2017
and up 5.0% from 2008.
 Source: Trading Economics

2.1.3 Top Imports from the Philippines to the USA

 The Philippines was the United States' 29th largest supplier of goods imports in
2018. U.S. goods imports from the Philippines totaled $12.6 billion in 2018, up 8.4%
($972 million) from 2017, and up 44.6% from 2008.
Source: Trading Economics
 2.1.4 Major Companies from the USA in the Philippines
3m
3M is a science-based technology company dedicated to advancing companies,
enhancing homes and improving lives.
Aig
We’re the world’s leading provider of property-casualty and general insurance, with more
than 88 million customers in over 100 countries around the globe.
American Airlines
American Airlines and American Eagle offer an average of nearly 6,700 flights per day to
nearly 350 destinations in more than 50 countries.
Capital One
Capital One Financial Corporation is a US-based bank that offers a wide variety of
financial products and services to consumers, small businesses, and commercial clients in the
U.S., Canada and the United Kingdom
Coca-Cola Philippines
The Philippines is the first venture of The Coca-Cola Company in Asia and is celebrating
its 107th year in the country. Coca-Cola Philippines has 18 brands under its portfolio, 19
manufacturing facilities, around 60 distribution centers nationwide and employs over 10,000
Filipinos. As part of its long-standing commitment to
Crown
The world-renowned provider of domestic and international end-to-end workforce
mobility solutions and talent management strategies.
Emerson
Helping address the world's most critical needs through new core business platforms -
Automation Solutions and Commercial & Residential Solutions.
Marriott International
Marriott International, Inc. is a leading global lodging company with more than 6,500
properties in 127 countries and territories.
Pfizer
 Pfizer develops and produces medicines and vaccines for a wide range of medical
disciplines, including immunology, oncology, cardiology, diabetology/endocrinology, and
neurology.
Philip Morris Philippines
PMFTC Inc. (PMFTC), the Philippine affiliate of Philip Morris International (PMI), is
the leading cigarette manufacturer in the Philippines.
Procter and Gamble
P&G is the world’s largest and most profitable consumer products company, with nearly
$84 billion in sales and 25 billion-dollar brands.
Quantity Solutions
Quantity Solutions, Inc. (QSI) is a cost engineering and project management consultancy
firm that provides cost-effective technology-based solutions to construction projects worldwide.
Santos Knight Frank
Building long-term relationships, which allow us to provide personalized, clear and
considered advice on all areas of property in all key markets.
2.2 Australia
2.2.1 Australia-Philippine Relations
Australia’s trade relationship with the Philippines is supported by the ASEAN Australia
New Zealand Free Trade Agreement (AANZFTA). Total trade between the Philippines and
Australia was valued at A$4.1 billion in 2014, 65 per cent higher than in 2010, when AANZFTA
entered into force.
AANZFTA is the most comprehensive FTA ASEAN has concluded, and governments
have been working to ensure that further benefits flow from the agreement. AANZFTA also
provides the foundation for the Regional Comprehensive Economic Partnership (RCEP),
negotiations for which are slated for conclusion by the end of 2016.
Two-way merchandise trade expanded 66 per cent between 2010 and 2014, to A$2.9
billion. Major Australian exports to the Philippines include metal ores and concentrates, copper
ores and concentrates, wheat and beef. Philippine exports to Australia include heating and
cooling equipment and parts, mechanical handling equipment, pumps and parts, and electrical
machinery
Services trade between Australia and the Philippines was worth A$1.3 billion in 2014, 64
per cent higher than in 2010. Australia’s top service exports to the Philippines in 2014 were
education-related and personal travel while the Philippines’ top service exports to Australia were
professional and personal travel.
Investment
The total stock of Australian investment in the Philippines was A$9.6 billion in 2014,
while the total stock of Philippine investment in Australia was valued at A$600 million in the
same year.
The business relationship
There are more than 200 Australian firms operating in the Philippines, including some of
Australia’s largest corporations. These firms employ an estimated 30,000 Filipinos and benefit
from their strong education and excellent English language skills.
The range of industries represented includes architecture, engineering, business process
outsourcing operations, telecommunications, banking, technical and vocational training and
mining.
Going forward
 There is widespread recognition that the economic relationship between Australia and the
Philippines has significant potential. The Philippine and Australian foreign and trade ministers
meet under the auspices of the Philippines-Australia Ministerial Meeting (PAMM). The PAMM
sets the direction and vision of the bilateral relationship and serves as a forum to discuss
initiatives and activities to strengthen the partnership.
The fourth PAMM was held in February 2014 and ministers agreed that increased trade
and investment could be supported by: promoting greater utilization of AANZFTA; encouraging
private sector exploration of new business opportunities; and by streamlining business
regulations and boosting productivity.
Senior officials identified specific activities that could boost trade and investment
between Australia and the Philippines during discussions in December 2015. This agenda will
be further developed and implemented throughout 2016.
Potential areas for cooperation span regulatory reform, technical and vocational
education and training, technical assistance and capacity building for government agencies,
business delegations and industry-to-industry talks.
Australia and the Philippines share an ambitious free trade agreement agenda, beyond
RCEP. For example, the Philippines hopes to join the Trans-Pacific Partnership, (after that
agreement has been implemented and accession terms are finalized), of which Australia was a
foundation member and could assist the Philippines accession process. Australia plans to
support national quality infrastructure and trade research and negotiation capacity building. We
also plan to continue supporting the Philippine Public-Private Partnership Centre in 2016 among
other infrastructure projects.

2.2.2 Top Exports from Australia to the Philippines

Australia is the Philippine’s 14th major trading partner with total bilateral trade
amounting to $2.1 billion, behind most countries in the Asia-Pacific region. Despite the free-
trade agreement with Australia under the Australia-New Zealand Free Trade Agreement
(AANZFTA), where 96.8 percent of our merchandise exports enjoy zero tariff when exported to
Australia, the Philippines has yet to maximize trade with Australia with the relatively small
amount of Philippine exports to Australia—$439 million exports
 Source: Trading Economics

The Philippines imports copper ores and concentrates, coal, beef and wheat to fuel
industrial production and support a growing population.
 2.2.3 Top Imports from the Philippines to Australia
By the year 2020, all Philippines merchandise exports will enjoy zero tariff when
exported to Australia, providing greater market access for Philippine products.
The Philippines’s major exports to Australia are electrical machinery, consumer
electronics, desiccated coconut and other processed food. Specifically, for food, the Philippines’s
top exports to Australia in 2017 were coconut, processed fruits and extracts, sauces and
condiments, pasta and noodles, biscuits and wafers, fruit juices, fresh and frozen tuna.
Australia has a population of over 24 million. According to the Australian Food and
Grocery Council (AFGC), the fresh food, processed food and beverage sector had a total
turnover of AU$110.6 billion for the period 2015 to 2016. Processed food and beverage is a
AU$104.2-billion industry while fresh food is an AU$6.4-billion industry.

Source: Trading Economics

 2.2.4 Major Companies from Australia in the Philippines
ANZ BANK
ANZ has been in the Philippines since 1990 and today services Institutional and Retail
customers from its branch in Makati City. ANZ Philippines is a fully licensed universal bank
providing domestic and foreign currency lending, trade and supply chain services, payments and
cash management, foreign exchange, commodity and interest rate hedging products, debt capital
markets, and retail banking services.
Aspen Philippines
Aspen Philippines Incorporated provides to both healthcare professionals and consumers
a range of high quality and innovative ethical, OTC and consumer products. All of which are
imported from the Group’s world-class manufacturing facilities in Malaysia, South Africa and
Germany.
Aurecon
 As one of the world’s leading engineering, management and technical services
consultants, Aurecon is focused on adding significant value to our clients’ businesses and
ensuring reliable, effective delivery of infrastructure and projects. Aurecon’s Philippines office
was established to support our international development business across the Asia Pacific region.
Aurecon has extensive experience in working with communities, organizations and governments
to build local capacity, improve access to resources for communities and support the delivery of
basic services and the development of infrastructure.

Austal
Austal is an Australian company that specializes in the design and construction of
aluminum vessels. Its main products include passenger and freight ferries, luxury yachts and
military vessels.
Australian International School (AIS)
The Australian International School (AIS) is a multi-disciplinary academic institution that
specializes in bringing best practices in international education to the Philippines. Our goal is to
have all our offered programs lead to or earn international certification or recognition. The
Australian International School provides the best of international education in a nurturing,
student-centered environment across a wide range of programs.

Cardno
Cardno is an ASX-200 professional infrastructure and environmental services company,
with expertise in the development and improvement of physical and social infrastructure for
communities around the world. Cardno’s vision is to be a world leader in the provision of
professional services to improve the physical and social environment.

Crone Partners
Crone Partners is an International Design and Consulting Firm working in markets across
Australia, China, Asia, India and the Middle East. Our Mission, based on innovation, creative
thinking and a sustainable environment, continues to lay the important foundations for the
wellbeing of the Global community and its environment. We deliver Design Excellence
appropriate to the needs of our clients. We embrace a collaborative approach, committing our
highly experienced and well recognized Studio Leaders and their teams work closely with clients
through innovative strategic thinking, allowing the team to balance sustainability, market
awareness and design excellence.

IDP
 IDP is a global leader in international student placement and co- owner of the world’s
most popular English language test. IDP Philippines has been involved in education services for
the Filipino people for almost 30 years. The main office is located in Makati with another branch
in Cebu.

Indophil Resources
Indophil Resources, an Australian company, has been present in the Philippines since
1996. Its purpose and vision have been to explore for, acquire and develop gold and copper-gold
opportunities in the Philippines. Its key minerals asset is the well-known and world-class
Tampakan Copper-Gold Project in Mindanao, and as an entity Indophil holds a 37.5% interest in
the deposit, along with global miner Glencore which holds the remaining beneficial interest. The
joint venture company, Sagittarius Mines Inc., holds and manages the combined interest in the
Tampakan deposit, with ownership of the actual deposit sitting with the Philippine Government
on behalf of the people of the Philippines. Indophil is subject to a well-advanced takeover
process by a subsidiary of the Philippine-based Alsons Group which is due for completion before
the end of January 2015.

Macquarie
Macquarie Group is a global financial services provider. It acts primarily as an
investment intermediary for institutional, corporate and retail clients and counterparties around
the world. Macquarie’s diverse range of services includes corporate finance and advisory,
equities research and broking, funds and asset management, foreign exchange, fixed income and
commodities trading, lending and leasing and private wealth management.

Meat and Livestock Australia (MLA)

Meat & Livestock Australia Limited (MLA) delivers marketing and research and
development services for Australia's cattle, sheep and goat producers. MLA creates opportunities
for livestock supply chains from their combined investments to build demand and productivity.

OceanaGold
OceanaGold is a significant multinational gold producer with four operating gold mines
and a portfolio of development and exploration assets in the South Island of New Zealand and
the northern Philippines.

QBE Group
 QBE Insurance Group Limited is Australia's largest global insurer. It provides insurance
services mainly to Australia, America, Europe and Asia Pacific region. As of 2014, it has over
16000 employees in 52 countries.

Site Skills Training

Site Skills Training, Philippines is part of Site Group International (ASX: SIT “Site”), an
ASX listed company providing Australian accredited and non-accredited training programs that
are specifically tailored to employer needs. Training is delivered through high quality facilities in
the Philippines (Clark Freeport Zone) and in Australia. Our experienced team assesses, up-skills
and trains industry experienced candidates in the mining & processing, oil & gas, construction,
camp services, hospitality and logistic sectors.

Telstra
Telstra is a leading telecommunications and Information services company headquartered
in Australia with international operations based out of Hong Kong. Our success story comes
from our deep understanding and experience in the Asian market for over 30 years. We consider
Asia to be a key growth market – both for Telstra as well as our customers – due to the region’s
vast economic potential. Within the Philippines, Telstra has the flexibility, agility and expertise
to serve customers operating within the region as well as businesses from Europe, the Americas
and other global companies looking to expand into the country and wider Asia. Our operations in
the Philippines serve both global enterprises and wholesale carrier businesses.

BYS Cosmetics
Is a fun, fashionable, luxurious and affordable cosmetics brand from Australia with
innovative products that appeal to all ages. With a strong emphasis on fun and fashion, as well as
sophisticated black styling, BYS continues to fill the void for innovative, good quality and great
value cosmetics that everyone can afford.
BYS Cosmetics has one of the largest ranges of products in the Philippines, with more than
1,000 products available in all 128 Watson stores nationwide.

Cotton On
Strives to deliver the right product at the right price, ensuring it never fails to surprise
and delight its customers. It is a focused, passionate and hand-on brand, with a goal to deliver on
–trend basics, fast and fun fashion, while making sure some fun is had while doing it. Cotton On
products are authentic, relaxed, on-trend, versatile and wearable.
Since opening in September 2012, there are now 21 Cotton On and six Cotton On Kids stores
nationwide.

Ever New
The exciting women’s fashion brand from Melbourne, Australia, is your premier dress
destination. Ever New celebrates the feminine beauty of women, a signature style flowing
through every creative element and inspired by global trends in art, film, theatre and international
haute couture runway shows. Ever New currently has four retail boutique in Manila and one in
Cebu

Holster®
is Australia’s leading jellies footwear brand, based in beautiful Noosa Beach, Australia.
The company designs innovative women’s and children’s footwear covering for the beach and
beyond. The holster® shoe is of superior quality – embellished utilizing striking A-grade jewels,
studs and Swarovski® elements, whilst constructed with a unique focus on detail.The holster®
woman is an ethereal mix of down-to-earth glamour, beach-side romanticism and someone who
smiles with the world; never taking life too seriously. In the Philippines, holster® is available in
all Shoe Salon outlets in Metro Manila and Pampanga.

2.3 Canada
2.3.1 Canada-Philippine Relations
Trade and Investment
In 2018, Canada-Philippines bilateral merchandise trade totaled $2.43 billion, up from
$2.24 billion in 2017. Canadian merchandise exports to the Philippines in 2018 amounted to
$979.1 million, up from $842.5 million in 2017. Top exports include aerospace products, wood
products, meat, and iron ore. In 2018, Canadian merchandise imports from the Philippines were
valued at $1.5 billion, up slightly from $1.39 billion in the previous year. Gains were led by
articles of copper, nuclear machinery, and toys and games.
Canada’s commercial activity in the Philippines includes a long-standing presence in the
insurance sector and a limited presence in the extractive industry, while new business activity is
occurring in the environmental services sector, including clean-tech, and the ICT sector.
Canada’s stock in direct investments abroad in the Philippines in 2018 was approximately $2.1
billion. In addition, given mutual commercial interests and strong people-to-people ties, Canada
has also become an attractive destination for investors from the Philippines.
 2.3.2 Top Exports from Canada to the Philippines

Source: Trading Economics

In 2018, Canada-Philippines bilateral merchandise trade totalled $2.43 billion, up from

$2.24 billion in 2017. Canadian merchandise exports to the Philippines in 2018 amounted to
$979.1 million, up from $842.5 million in 2017. Top exports include aerospace products, wood
products, meat, and iron ore
 2.3.3 Top Imports from the Philippines to Canada

Source: Trading Economics

In 2018, Canadian merchandise imports from the Philippines were valued at $1.5 billion,
up slightly from $1.39 billion in the previous year. Gains were led by articles of copper, nuclear
machinery.
 2.3.4 Major Companies from Canada in the Philippines
Colliers International Phils., Inc.
Colliers International is a Canada-based global commercial real estate services
organization with approximately 17,000 employees in more than 400 offices in 68 countries
PressReader PH
Is a digital newspaper distribution and technology company with headquarters in
Vancouver, Canada and offices in Dublin, Ireland and Manila, Philippines. PressReader
distributes digital versions of over 7,000 newspapers and magazines in more than 60 languages.
Sun Life of Canada (Philippines), Inc.
Sun Life Financial, Inc. is a Canadian financial services company known primarily as a
life insurance company. It is one of the largest life insurance companies in the world, and also
one of the oldest with a history spanning back to 1810.
TELUS International Philippines, Inc.
TELUS International is a subsidiary of TELUS, a national telecommunications company
in Canada. TELUS International provides multilingual customer service outsourcing and digital
IT services to global clients.
The Manufacturers Life Insurance Co. (Phils.), Inc.
Manulife Financial Corporation is a Canadian multinational insurance company and
financial services provider headquartered in Toronto, Ontario, Canada. The company operates in
Canada and Asia as "Manulife" and in the United States primarily through its John Hancock
Financial division.
Tim Hortons Coffee Services Philippines Inc.
Tim Hortons Inc. is a fast food restaurant chain, specializing in coffee and doughnuts
items. It is Canada's largest quick service restaurant chain; as of December 31, 2018, it had a
total of 4,846 restaurants in 14 countries. The company has its headquarters in Toronto, Ontario
2.4 Middle East
2.4.1 Israeli-Philippine Relations
The Philippines and Israel relations have always been warm and friendly. Political,
Cultural, Economic, Scientific and Technological cooperation between the two countries
continue to prosper.
Philippines and Israel Trade Cooperation continue to grow but remains minimal in
comparison with other countries in Europe and America.
2.4.2 Top Exports from the Middle East to the Philippines
Israel

Source: Trading Economics

2.4.3 Top Imports from the Philippines to the Middle East
Israel

Source: Trading Economics

 2.4.4 Major Companies from Middle East in the Philippines (Israel)
Payo
Payo is a cash-on-delivery gateway for ecommerce platforms that provides a full suite of
technological solutions to help reduce cancellations and increase revenues, and allow the
merchant to gain a clear understanding of the entire process.
Yael Adventures
Over 30 years ago, a travel company was established with the mission to give tourists an
off-the-beaten-track experience across Israel. It was named Yael Tours; Yael meaning Ibex or
Mountain Goat in Hebrew – an animal that roams freely across the countryside exploring the
beautiful nooks and crevices of Israel.
ECI Telecom
ECI Telecom Ltd is an Israel-based manufacturer of telecommunications equipment that
provides packet optical transport products, SDN/NFV applications, a cybersecurity solution and
a range of professional services.
STAR-K Kosher Certification
STAR-K Kosher Certification has provided kosher supervision for over fifty years. As a
leader in the international world of kosher certification, the STAR-K is most proud of its
reputation for providing prompt, friendly and professional service to both the kosher consumer
and members of the food industry.
Gat Fertilizers
Gat fertilizers Ltd. is known for its advanced and unique fertilizer production technology,
highly trained production and logistics team and professional sales and agronomical support
team.
Stockton-Agrimor Philippines, Inc.
Founded in 1994, STK is a bio-ag technology company, committed to protect crops while
meeting the highest sustainability standards.
Netafim
Netafim is an Israeli manufacturer of irrigation equipment. The company produces
drippers, dripper lines, sprinklers and micro-emitters. Netafim also manufactures and distributes
crop management technologies, including monitoring and control systems, dosing systems, and
crop management software.
EL AL Israel Airlines Ltd
 Is the flag carrier of Israel since its inaugural flight from Geneva to Tel Aviv in
September 1948, the airline has grown to serve over 50 destinations.
CosmetiGroup Int’l Corp.
Is engaged in importing, distributing and retailing goods such as Dead Sea beauty
products, botanic beauty products and more.
TrueLogic Online Solutions Inc.
Is a premier digital marketing outsourcing company that offers various services,
including Web Design & Development, Social Media Marketing, Search Engine Optimization,
Content Marketing, Reputation Management and Google AdWords.

Chapter 3: Corporations in the Philippines

3.1 Top companies in the Philippines
Below are Philippines biggest companies organized by asset value. Shown within parentheses is
the primary industry in which each company operates.

 Top Frontier Investment Holdings (oil & gas): $30 billion, up 4.2%
 Ayala (conglomerate): $20.5 billion, up 11.4%
 SM Investments (department stores): $18.6 billion, up 7.5%
 JG Summit Holdings (conglomerate): $14.9 billion, up 11.2%
 San Miguel (conglomerate): $10.9 billion, up 13.2%
 Alliance Global Group (conglomerate): $10.7 billion, down -5%
 Aboitiz Equity Ventures (conglomerate): $9.6 billion, up 18.6%
 PLDT (telecommunications services): $8.8 billion, down -3.2%
 References:
https://www.worldbank.org/en/country/philippines/publication/philippines-economic-
update-investing-in-the-future

https://ustr.gov/countries-regions/southeast-asia-pacific/philippines

https://philippines.embassy.gov.au/mnla/relations.html

https://www.iro.ph/article_doc/ca496bab_Philippine%20Macroeconomic
%20Presentation.pdf

https://tradingeconomics.com

https://www.canadainternational.gc.ca/philippines/bilateral_relations_bilaterales/canad
a_philippines.aspx?lang=eng

https://www.iccp.ph

http://www.philippinesaroundtheworld.com/philippines-top-10-largest-companies/

https://www.amchamphilippines.com/corporate-partners/