The Philippine Chamber of Commerce and Industry (PCCI) has forged a memorandum of cooperation (MOC) with counterparts in Brunei, Malaysia and Indonesia to increase investment and trade flows between these countries.
The MOC was signed yesterday at the 1st PCCI BIMP (Brunei, Indonesia, Malaysia, Philippines) EAGA (East Asean Growth Area) Trade, Investment, and Halal Conference at the Manila Hotel yesterday.
PCCI president Enunina Mangio said the MOC will tap on the BIMP countries’ potential for complementation in agriculture, manufacturing, and services particularly in halal and tourism.
Mangio said halal is a key area where the chambers’ cultural and economic commonalities offer unique opportunities for partnership and innovation.
Mangio said cross-border investments within BIMP EAGA will drive the development of infrastructure, enhance technological capabilities, and create new industries within the integrated regional economy.
But Mangio noted the need to reduce barriers, streamline processes, and build stronger networks among the chambers and businesses.
In her speech, Acting Secretary Ma. Cristina Roque said the Department of Trade and Industry (DTI), said the agency has received investment pledges from Malaysia, Indonesia, and Brunei Darussalam as the country revitalizes the halal industry.
Roque said the DTI plans to establish a halal-friendly hotel in Clark and a poultry processing facility in Tarlac.
The DTI also aims to provide halal certification for micro, small and medium enterprises and support their expansion into the international market.
The Philippines hopes to get a share of the $3.3- trillion global halal market and make the Philippines a halal-friendly hub in Asia- Pacific.
