PCCI has always been a reliable partner in shaping trade and investment policies
Trade Secretary Alfredo Pascual (left) and PCCI president George Barcelon shows on Monday a memorandum of understanding they signed to formalize a partnership in the promotion and utilization of trade agreements and other preferential arrangements to boost the economy. | Photograph courtesy of DTI
The Philippine Chamber of Commerce and Industry, the country's biggest trade group, and the Department of Trade and Industry, or DTI, have combined forces to push for the promotion and utilization of the country's trade agreements.
Trade Secretary Alfredo Pascual and PCCI president George Barcelon on Monday sealed the memorandum of understanding, which will complement the department's trade education and advocacy campaign to ensure that stakeholders are aware of the opportunities that these trade agreements bring and that they are able to utilize the FTAs.
"The MoU is another concrete step to help boost the competitiveness of domestic industries. We aim to undertake initiatives that will empower our stakeholders to compete in a bigger market and seize the available opportunities therein. Through these FTAs, it will provide an enabling environment for businesses, particularly as we advocate the utilization of these FTAs and build the capacity of our stakeholders," according to Pascual.
Sokor free trade
The latest FTA was sealed by the Philippines and South Korea, aimed to significantly contribute to the Philippines' value proposition as a strong market for smart and sustainable investments, especially as a manufacturing and export hub in the region, a milestone to further enhance the Philippines and South Korea partnership through increased trade and investment relations as well as job generation.
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Barcelon said PCCI has always been a reliable partner in shaping trade and investment policies.
He said with its extensive network and partnerships with various industry associations, and business councils, PCCI is significant in empowering the export sector through the trade agreements.
The partnership is aligned with DTI's objective to strengthen the competitiveness of Philippine businesses, particularly the micro, small, and medium enterprises.
Focus of cooperation
One of the main cooperation activities to be undertaken under the MoU is the establishment of international trade assistance centers or help desks in key regions or provinces with the help of PCCI and its local chambers. Further, building on a holistic approach, the PCCI and other industry associations will be provided with capacity-building and mentorship programs to strengthen their capability to utilize trade agreements and arrangements effectively.
Likewise, regular trade-related dialogues and consultations will be held for local business communities, especially those with export potential.
The PCCI and DTI both said the partnership is timely with the recent entry into force of the Regional Comprehensive Economic Partnership agreement for the Philippines that will seize opportunities in the RCEP region.
