Export Development Canada (EDC), Canada’s export credit agency, and San Miguel Corporation (SMC), one of the Philippines’ largest and most diversified conglomerates, have signed a Memorandum of Understanding (MOU) to help boost trade and investment between Canada and the Philippines. The partnership aims to create new opportunities for Canadian businesses to enter the growing Filipino market, a key investment destination in Southeast Asia.
Under the MOU, EDC will provide customized support to Canadian companies seeking to establish or expand their presence in the Philippines. SMC, leveraging its local expertise and extensive network, will act as a strategic partner by helping to facilitate opportunities for collaboration.
“EDC and SMC are collaborating to help open more doors for Canadian exporters in the Philippines and make productive trade connections between our two nations,” said Todd Winterhalt, Senior Vice-President, International Markets and Head of Communications and Public Affairs. “SMC is a market leader in the country and a household name, which is exciting for Canadian firms looking to export to the Philippines. SMC may have needs that match the strength of Canadian expertise, such as in agri-food, cleantech and large-scale infrastructure projects. Now with SMC as an in-market partner and our new EDC representation in Manila, Canadian businesses working with EDC in the Philippines can expect a higher level of engagement, increased market insights, on-the-ground support, and sector-specific guidance.”
Sharing a commitment to sustainability, both EDC and SMC will provide guidance on environmental, social, and governance (ESG) best practices, ensuring Canadian businesses operate responsibly and align with global standards.
The Philippines has emerged as one of Canada’s most dynamic trade partners in Southeast Asia, with its economy doubling over the past 15 years, fueled by rapid industrialization and a growing manufacturing sector. Since 2019, Canadian exports to the Philippines have grown by 71%, due largely to the country’s increasing appetite for higher quality goods and services.
As the Philippines addresses its expanding needs for infrastructure development, engineering expertise, and agricultural solutions, the partnership between EDC and SMC is set to play an important role in bridging these opportunities with Canadian innovation and capabilities.
About San Miguel Corporation (SMC)
San Miguel Corporation, together with its subsidiaries, is one of the largest and most diversified conglomerates in the Philippines by revenues and total assets—with sales equivalent to approximately 6.0% of the Philippine GDP in 2023. SMC owns market-leading businesses and investments in various sectors, including food and beverage, packaging, energy, fuel and oil, infrastructure, cement, property and banking services. SMC has a portfolio of companies that is tightly interwoven into the economic fabric of the Philippines, benefiting from, as well as contributing to the development and economic progress of the country. For more information, visit: https://www.sanmiguel.com.ph/.
