RIYADH, 26 February 2007 — Ambassador Antonio P. Villamor yesterday called on Filipinos in the Kingdom to spend at least 25 riyals a month on purchasing products from the Philippines to help spur the national economy.

“If an OFW (Overseas Filipino Worker) spends SR25 a month, this works out to SR300 a year or SR300 million ($80 million) annually. Since one million OFWs are residing in the Kingdom, this will give a big boost to the Philippine economy,” Villamor said while speaking in Riyadh yesterday at a meeting between the first Mindanao Trade Investment Mission to the Kingdom and the Mindanao Economic Forum (MEF).

The trade mission, headed by Assistant Secretary Merly M. Cruz of the Department of Trade and Industry in the Southern Mindanao Region, is composed of representatives of the ARMM, the Department of Foreign Affairs, the Mindanao Economic Development Council, and the Mindanao Business Council.

The mission arrived on Friday and met with the Riyadh Chamber of Commerce and Industry on Saturday.

Yesterday, the delegation met with the Saudi Arabian Standard Organization and the Saudi Food and Drug Authority and also met the Filipino Business Community and OFWs at the Philippine Embassy.

Cruz said the trade mission came to promote Mindanao products and generate awareness of Mindanao as a potential supplier of goods and services and to establish business and market contacts that can also serve as a vehicle to introduce other products in the future.

It will also promote and position Mindanao as an investment destination for Saudi businessmen, and to provide investment opportunities such as effective poultry farming as a viable investment concept for overseas Filipinos, she said.

The mission is bringing a wide range of products from Mindanao to Saudi Arabia — from canned tuna to virgin coconut oil, charcoal briquettes, vegetable derivatives, poultry and even jewelry made of pearl — the latter being abundant in the seas of Mindanao.

She also said the mission offers numerous potentials for Mindanao Halal food products, as well as possible joint venture schemes with Saudi investors.

“This is a very timely meeting and we are indeed surprised to see that OFWs are launching the First Mindanao Economic Forum here. This will give our mission a boost,” she said, adding that the meeting will be the starting point of discussion for both sides.

Cruz pledged that the DTI would facilitate a counterpart trade trip for Saudi investors once the MEF has organized a mission to visit Mindanao.

The trade delegates include Rene Alfredo Baños Jr., Felipe R. Eleazar and Antonio Nañagas of Organix Solutions, Inc. of Organix Solutions; Belinda CM Fernandez and Bonifacio P. Fernandez of BF Industries; Roger G. Gualberto of the Vegetable Industries Council of Southern Mindanao; DTI assistant regional director Sitti Amina Jain of Southern Mindanao; Vicente T. Lao of Maharlika Agro-Marine Venture Corp.; Ferdinand Y. Maranon of Sagrex Foods Corporation; Sitti N. Onggo of Mindanao Pearl Center; Rodrigo C. River Jr. of RD Group of Companies; Director Teolulo T. Tasawa of DTI Davao City; and DTI RegionXI deputy center manager Edwin O. Banguerigo

The MEF was represented by Mohamad Elias Mua, chairman of the UMA and MEF interim vice president for external affairs; Usodan Dida-agun, Mitsubishi purchasing manager and an MEF director; Saidali Malik, vice president of BCDC and purchasing manager of Saudi Turf and an MEF director; and Amen Panolong, MEF secretary-general.