The Scandinavian nation of Denmark is eyeing to double its trade with the Philippines in five years following the reestablishment of the Danish embassy in the Philippines after 12 years of closure.
Newly installed Ambassador of Denmark to the Philippines Jan Top Christensen said the goal of doubling the existing trade level of the European country to the Philippines is a feasible goal within the period of his stewardship.
“I personally find that goal realistic within the period given to me [five years] with the new boost in interest of Danish companies in the Philippines. This business delegation is a sign that they have really rediscovered the Philippines,” Christensen said in an interview with the BusinessMirror.
Christensen noted the positive business atmosphere in the Philippines, and the bright outlook of global monetary organizations such as the International Monetary Fund and the World Bank in the country as signs of a promising future in the Philippines.
Trade and Development Cooperation Minister of Denmark Mogens Jensen, likewise, cited the reform agenda and improvement of ease of doing business in the Philippines as the impetus for re-establishing presence here.
Christensen estimates bilateral trade in 2014 to have closed at over a billion Danish krone, or over $150 million.
As of the first nine months of 2014, trade jumped by 156 percent, said Christensen, mainly due to the delivery of wind turbines sourced from Denmark to the wind-farm projects in Ilocos Norte.
Growth this year could be in the double digits, estimated Christensen but did not cite specific targets.
The business delegation from Denmark that arrived last week to coincide with the embassy’s reopening were from the sectors of sustainable solutions such as food and agri-technology, and healthcare. The delegation also sought meetings with Philippine companies.
Denmark shuttered its representative office in the Philippines in 2002, and has officially re-opened its embassy on Thursday last week in Fort Bonifacio at the Global City.
The Philippines is among the four diplomatic posts to be opened by the Danish government, along with Myanmar, Colombia and Nigeria, as part of a modernization strategy of the Scandinavian government on the Danish Foreign Service.
It was reported earlier that the Ministry of Foreign Affairs in Denmark is implementing the said strategy that involved the reshuffling of diplomatic missions worldwide.
The reshuffling saw the closing down of number of representations, especially in Europe, with the savings from the closures to be directed toward strengthening Danish presence in several emerging countries, including the Philippines.