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PIA Press Release
2007/07/06

Trade mission to KSA leads to actual business exchange

by Prix D Banzon

Davao City (6 July) -- The trade mission initiated by the government and the private sector in the Kingdom of Saudi Arabia (KSA) early this year resulted to the firming up of agreements for actual business exchange.

Department of Trade and Industry (DTI) Assistant Secretary Engr. Merly M. Cruz reported that one of the products that has gained positive response was the Pinoy Fries that will be marketed to the 1.4 million Overseas Filipino Workers (OFWs) in KSA.

The Pinoy Fries which is being positioned as alternative to French Fries and introduced by Sagrex Foods Inc. recently sent samples to various KSA markets/clients and earned good results as the over-all acceptability of the product was very positive.

Cruz said traders and distributors as well the OFWs expressed intense desire that the products, namely frozen banana fries, microwavable ripe Cardaba banana and turon, be made available in the market. Business arrangements are on- going.

Cruz on the other hand said that Maharlika Agro-Marine Ventures that caters to poultry products is expected to fly back to KSA next month to finalize its business plan with some Arab businessmen.

She said the registration of the plan to sell poultry farms to OFWs will also commence even as she said that OFW buyers can monitor their investments through the virtual farming technology. The scheme is one aspect of developing OFWs as investors, she said.

The other project is being carried out by the Mindanao Pearl Center where a P2.5 million worth of pearl southern bangles is now under negotiation between them and a company based in KSA.

She further said that a bottled sardine producer in Zamboanga City that was extensively promoted by DTI 9 Assistant Regional Director Sitti Amina Jain was able to establish tie-ups with an Arab businessman.

Initially the YY Sea International has already received an order worth P37.9 million and P4 million of which has already been paid by the buyer as down payment.

The buyer who came to Manila for the International Food Expo (IFEX) last month made no hesitation and forged an arrangement with YY Sea International for a steady supply of bottled sardines.

The trade mission was spearheaded by the Department of Trade and Industry - National Economic Research and Business Assistance Center (DTI-NERBAC) Davao on February 23 to March 5 with a 14-man delegation composed of businessmen all over Mindanao and some DTI officials.

The trade mission was supported by the local government of the Autonomous Region in Muslim Mindanao (ARMM), Mindanao Economic Development Council (MEDCO), Mindanao Business Council (MinBC) and Davao City Chamber of Commerce and Industry, Inc. (DCCCII). (PIA XI) [top]

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