Canadian agency budgets $18M for PH

Thursday, September 15, 2011By Katlene O. Cacho

CANADIAN International Development Agency (Cida) is earmarking $18 million to finance its projects in Asia. The agency set aside $8 million for the Philippines this year through bilateral programs.

Canadian ambassador to the Philippines Christopher Thornley said in an interview that the assistance is meant to help the country improve its business environment, such as streamlining business registration process so it could attract foreign and local investors.

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“One testament of the long standing relationship between Canada and the Philippines is the strong presence of Cida in the country, which focuses on economic sustainability,” Thornley said.

The goal of Cida’s program in the Philippines is to support sustainable economic growth by improving the climate for investment and protecting the economic interests of the poor. Its program is said to be aligned with the country’s Medium Term Development Plan.

Apart from simplifying business regulations and processes, Cida is also working in cooperation with national and local government agencies in improving sector-specific value chains, from the product’s conceptualization to its disposal.

Thornley said the agency’s focus is also developing the country’s work force.

Cida is also working to increase the capacity of government and non-government organizations to deliver programs and services that help micro-entrepreneurs develop business skills, increase productivity and improve access to financing and markets.

Cida said the country has a vibrant private sector and an active civil society that can be partners in development.

Among the areas in the country where Cida has successfully implemented its local development projects are in Bohol and Northern Luzon.

Thornley said Cida coordinates with government agencies such as the Department of Trade and Industry, Department of Agriculture and National Economic Development Authority for the implementation of its projects.

Thornley said the Philippines is a key partner not only in development assistance programs but also in the promotion of trade and investment. Bilateral trade between two countries is growing and is now estimated at $1.5 billion, with agri-food products as the largest component of the trade.

In 2010, Canadian merchandise exports to the Philippines reached $683.7 million, while Canadian imports from the Philippines were valued at $889.0 million.

Thornley said the market for agricultural products in the Philippines continues to be robust, with significant potential for growth within the processed food and beverage sub-sector and franchises.

The Philippines is also Canada’s largest source country for immigrants last year.

There are about 500,000 Filipino immigrants in Canada.

Published in the Sun.Star Cebu newspaper on September 16, 2011.