01/06/2026
PRESS RELEASE
Philippines Strengthens Economic Ties in Northern Italy Through TOASEAN Focus Event in Turin
Turin, 28 May 2026 — The Philippines reinforced its commitment to expanding its economic ties in northern Italy during the “TOASEAN: Focus on Philippines and Vietnam” event held on 28 May 2026 at the Centro Congressi Unione Industriali in Turin.
The event highlighted the growing importance of the Piedmont region, particularly Turin, as a strategic partner for industrial cooperation, innovation, and sustainable development, while creating new opportunities to strengthen Philippine-Italian business relations.
Speaking at the TOASEAN event, Philippine Ambassador to Italy, H.E. Nathaniel G. Imperial, emphasized ASEAN’s increasing role as a stable and reliable economic partner amid ongoing global supply chain shifts. He noted that bilateral trade between the Philippines and Italy reached USD 1.4 billion in 2024, reflecting a 10% increase from the previous year, and expressed optimism that trade could grow to USD 2 billion within the next three years.
Ambassador Imperial also highlighted the Philippines’ strong economic fundamentals, including more than a decade of macroeconomic stability, investment-grade credit ratings, a young and English-speaking workforce, and recent reforms such as the CREATE MORE Act. These developments, he said, continue to make the Philippines an attractive destination for Italian investments, particularly in renewable energy, digital innovation, manufacturing, and SMEs.
Commercial Counsellor Rosa Katrina Banzon delivered a presentation titled “Philippines: Opportunities, Partnerships, and Future Outlook,” where she outlined the country’s positive economic outlook and growing opportunities across key sectors such as semiconductors, electronics, renewable energy, agrifood, and infrastructure.
She underscored the Philippines’ important role in the global electronics value chain, with electronics accounting for around 70% of the country’s exports, and pointed to emerging opportunities linked to major renewable energy initiatives and the Luzon Economic Corridor.
Adding an industry-centered perspective, Mr. Dan Lachica, President of the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI), showcased the country’s strengths in electronics manufacturing and the potential for stronger industrial collaboration between Philippine and Italian companies.
The forum concluded with a networking session that allowed Philippine representatives and Italian businesses representatives to exchange ideas, explore concrete projects, and identify future areas for collaboration.
The event is organized by the Camera di Commercio di Torino, Unione Industriali Torino, the University of Turin, CEIPIEMONTE, Club Asia, and Torino World Affairs Institute. It brought together diplomats, industry leaders, business representatives, and experts for discussions on green building, energy, infrastructure, electronics, and agrifood. Italian financial institutions SACE and SIMEST also presented financing tools available to companies looking to expand into ASEAN markets.
The Philippine Consulate General in Milan expressed its appreciation to the organizers for hosting the event and reaffirmed its support to strengthening trade, investment, and institutional partnerships across northern Italy. END