Madrid, Spain — The Department of Trade and Industry (DTI), through its Philippine Trade and Investment Center (PTIC) in Madrid, is strengthening economic ties between the Philippines and the autonomous region of Galicia, Spain, following a successful trade mission and a recent feature interview with Galician media outlet Diario Atlántico —published on 15 June 2025.

PTIC-Madrid Commercial Counsellor Althea Karen Antonio, in her interview, emphasized the Philippines’ sustained economic advancement, supported by robust domestic consumption, a young population, and investor-friendly policies. “Despite strong fundamentals, awareness about the Philippine market among Spanish businesses, especially in Galicia, remains limited. There is a clear need to bridge this gap through better information exchange, targeted business engagements, and institutional partnerships,” Antonio said.

Galicia, one of Spain’s fastest-growing regions, is a leader in textile, automotive, and shipbuilding industries. Home to global fashion brands like INDITEX and Bimba y Lola, its textile sector accounts for 14% of regional GDP. It is also Spain’s third-largest automotive hub, anchored by the PSA Group and over 100 suppliers. The shipbuilding industry remains strong, with growing demand for fishing vessels, offshore platforms, and ocean liners, while expanding into renewable energy and maritime innovation.

Southeast Asia’s rising economic star, the Philippines is forecast by the Asian Development Bank (ADB) to grow by 6% in 2025 and 6.1% in 2026. The country is also projected to become a USD 1 trillion economy by 2033 and is ranked by HSBC as the 13th largest consumer market globally by 2030.

PTIC-Madrid highlighted that while current economic relations between the Philippines and Galicia are in early stages, there is strong potential for growth in key sectors. Galicia, known for its global strengths in shipbuilding, textiles, food and beverage, and automotive manufacturing, aligns well with Philippine development priorities.

One key focus of the partnership is maritime collaboration. “Galicia’s advanced naval sector stands to benefit from the Philippines’ ambition to become a global maritime hub,” Antonio shared. The Philippines, already among the world’s top five shipbuilding nations, is pursuing policies such as the Shipbuilding and Ship Repair (SBSR) Development Bill, which seeks to modernize infrastructure and expand capabilities with green technologies. Full foreign ownership is allowed in shipbuilding ventures, further opening the door for Galician firms.

In addition to shipbuilding, the Philippine consumer market offers significant opportunities for Galician and Spanish fashion and textile companies. “With around USD 5.1 billion in apparel and footwear spending projected to grow, and the liberalization of retail trade laws such as the Retail Trade Liberalization Act (RTLA), Spanish brands now have greater access to the Philippine retail scene through partnerships, franchising, or e-commerce,” Antonio added.

Antonio also addressed interest in infrastructure partnerships, affirming that many of the Philippines’ infrastructure projects under Public-Private Partnerships (PPP) are open to foreign companies.

The interview also touched on the recent visit of a Philippine delegation to Vigo, organized in cooperation with ACLUNAGA, the Spanish ASEAN Business Association (ASEMPEA), and Avco Legal. “Our visit was a significant first step in reconnecting our two regions and identifying shared interests,” Antonio remarked. “Ambassador Philippe Lhuillier of the Philippine Embassy in Madrid has long advocated for expanding partnerships beyond Madrid and Barcelona to Spain’s autonomous regions like Galicia, which hold untapped potential for stronger bilateral trade and investment.”

The DTI through PTIC Madrid continues to pursue sustained engagement with Galician stakeholders through follow-up business exchanges, sector-specific dialogues, and close coordination with both government and private sector partners.

Read the full interview by Diario Atlántico: https://www.atlantico.net/economia/althea-karen-antonio-filipinas-presenta_1_20250615-3880818.html

Meeting with the Confederación de Empresarios Gallegos (CEG)

Meeting with Inditex

Meeting with La Cámara de Comercio – A Coruña

Meeting with the Xunta de Galicia

Seminar with ACLUNAGA: Opportunities for the Galician Shipbuilding Seminar in the Philippines

Visit to the Port of Vigo

Visit to Freire Shipyard

Visit to Armón Shipyard

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Date of Release: 27 June 2025