ASEAN electronics reverse trade fair earns US$5M

A total of US$5 million worth of business deals was generated in the recent ASEAN reverse trade fair for electronics joined by multinational and homegrown companies within the region, the Center for International Trade Expositions and Missions (CITEM) reported.

Seventy-eight electronics suppliers were matched with multinational and homegrown electronics companies, such as First Sumiden, Sharp Philippines, Fastech Synergy, Texas Instruments, PSI Technologies, Inc., Team Pacific Corporation, Pricon Microelectronics, Inc., GMV Materials, Inc., Integrated Microelectronics, Inc., Analog Devices Philippines, Inc., Temic Automotive Philippines, Inc., and Fujitsu Computer Products of the Philippines.

“AE-BOEC’s reverse trade fair was conducted to become a premier meeting place for ASEAN buyers in the electronics supply chain. It also aims to boost the region’s trade and increase outsourcing through a single production and supply base for electronics,” said Assistant Secretary and CITEM Executive Director Fe Agoncillo-Reyes.

The AE-BOEC is organized by the Center for International Trade Expositions and Missions (CITEM), the trade promotion arm of the Department of Trade and Industry, and in cooperation with the Board of Investments (BOI) Business Development Team for Electronics, the ASEAN Electronics Forum, and Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI).

“Philippine electronics companies have strong potential, they are capable to compete globally amidst limited resources,” said Franki Li of Mobicon Enterprises, one of the supplier delegates of the event.

Phnom Penh Sez Co., Ltd of Cambodia and Indonesian Board of Investment received inquiries from prospective locators as well as business matching from the Philippines and other ASEAN countries.

Eight procurement officials from top ASEAN electronics companies discussed their purchasing programs and shared information on how potential ASEAN suppliers can be accredited and seize contracts.

The event was opened by Pres. Gloria Macapagal-Arroyo, Department of Trade and Industry Secretary Peter Favila, BOI Governor and ASEAN Electronics Forum Chairman Francis Ferrer, and DTI Undersecretary and BOI Managing Head Elmer Hernandez.

In 2005, total trade of ASEAN approximately reached 397 billion US dollars in the electronics sector, of which 24 percent is recorded as intra-ASEAN trade.

ASEAN is home to about 4,000 electronics firms. Global giants of the industry like Texas Instruments, Intel, Solectron, Flextronics, Toshiba, Panasonic, Sharp, Sanmina, Celestica, to name a few also have strong presence in the region.