Saudi Arabia's desire to secure its sources of food for its citizens by establishing overseas joint ventures in food production has received a positive response from a Philippine trade delegation. The delegation, promoting halal Filipino food products, made the assurance during a meeting with the delegation of the Asharqia Chamber of Commerce in the Eastern Province. “We welcome the establishment of joint ventures in food production with the Kingdom,” said Dr. Thomas G. Aquino, Senior Deputy Minister, Philippines Ministry of Trade & Industry, the head of the delegation. According to Aquino, a top-level Saudi agricultural mission headed by Fahd Bin Abdulrahman Bin Suleiman Balghunaim, Saudi Minister of Agriculture, will visit the Philippines, particularly Mindanao, in the first week of May to discuss collaboration and partnership in establishing joint venture projects in agricultural production. One of the priorities of the Kingdom in establishing joint overseas agricultural ventures is the production of rice and other staple products. Gil B. Herico, the agriculture attaché at the Philippine Consulate General in Dubai, the UAE, said the delegation will be composed of the biggest Saudi investors who are very keen in setting up long-term agricultural ventures in the Philippines. Adnan A. Al-Naeim, Secretary General of Asharqia Chambers, told the delegation to consider cooperation in food processing in the Kingdom. “I hope that members of your delegation will reap benefits of the on-going trade and investment opportunities in Saudi Arabia generated after the liberalization of its foreign investment regulations by setting up joint ventures in food productions here,” he said. Philippines bananas are among the popular exports to the Kingdom, amounting to SR270 million in 2007. The founding of the National Halal Accreditation Board of the Philippines is another step in expanding exports of food items to the Kingdom and other Gulf and Middle Eastern countries, according to Aleem Walid Abubakar, chairman of the board. He said the board supports the Philippine government in its thrusts to develop and promote the halal food industry. “We are very keen on strengthening our global cooperation to promote the credibility of Philippine halal certified products,” Abubakar said. The two-way trade between the Kingdom and the Philippines has gone up significantly in recent years. In 2007, bilateral trade rose to SR13 billion, as compared to SR11.1 billion in the previous year. During the period, Saudi imports from the Philippines accounted for around SR0.5 billion, while Saudi export totaled SR12.5 billion. The trade delegation was composed of about a dozen leading food producers. Members of the delegations who held discussions with Saudi businessmen here included Senen M. Perlada, Director at the DTI, trade representatives Paisal D. Abdullah and Jose Ma. Dinsay, Labor Attaché David Des T. Dicang, and Rose Marie Castillio and Rafael P. Montalvo Jr. of the DTI Bureau of Export Trade Promotion.
