BUENOS AIRES, Argentina, Philippines – An Argentinian multinational pharmaceutical company is eyeing to build a manufacturing plant in the Philippines, a move which, if realized, should further boost trade relations between both countries.

Martin Lo Coco, executive director of the Argentine Chamber of Commerce for Asia and the Pacific, revealed that Bagó Laboratorios, a multinational company based in Argentina is now considering the

possibility of putting up a manufacturing plant in the Philippines, in addition to existing plants established by the company in Vietnam and Taiwan.

Bagó Laboratories is owned by the Bagó Group, a major Argentine business firm with a strong presence in several Latin American countries. The group comprises of different companies focused on health care and on improving quality of life as well as providing high-tech services in strategic areas.

Lo Coco, who led Argentinian businessmen in a business matching session with the delegation from the Cebu Chamber of Commerce and Industry (CCCI) in Buenos Aires, said the investment could further revitalize trade relations between the Philippines and Argentina.

“Our trade relation for now is still not that strong but the future will be great especially with the plan of Bago to open a big plant in the Philippines,” Lo Coco told Manila Bulletin before the official start of the business matching session.

Melanie Ng, CCCI’s head of trade mission, said the first day of the business matching session proved to be very successful even as Argentina was on a national holiday. She said local businessmen met with their

Argentine counterparts and discussed ways to build viable partnerships in business.

Arvin de Leon, minister and consul general of the Philippine embassy in Argentina, said now is a good time for both countries to strengthen business relations and stressed that the trade mission being conducted by the Cebu provincial government and the CCCI is a “great start.”