The Philippine Chamber of Commerce and Industry (PCCI) and the Canada-Asean Business Council have signed a memorandum of understanding (MOU) to enhance economic cooperation in priority sectors of mutual interests, the local chamber said.
Under the MOU, which was signed on April 29 in Toronto, Canada, the cooperation will focus on information and communications technology, innovation, agriculture, manufacturing, franchising, tourism, services, and the development of small and medium enterprises — which all align with the strategic interests of both countries.
The PCCI said in a statement on Monday the MOU was signed by PCCI president Enunina Mangio and Canada-Asean Business Council president Wayne Farmer.
Both parties are expected to promote the regular exchange of market trends and coordinate trade missions and business networking initiatives.
The agreement enables them to help businesses navigate through regulatory frameworks, discover new commercial opportunities and participate in specific sector events.
The chamber of commerce and the business council also agreed to establish a framework that enables Philippine and Canadian enterprises to connect, innovate and grow.
Total trade between the Philippines and Canada reached $1.44 billion in 2024, making Canada the Philippines’ 20th top trading partner that year.
