FILE PHOTO: The Philippine Chamber of Commerce and Trade (PCCI) indicators a memorandum of understanding (MOU) with a serious financial group in South Korea on Monday, October 7, 2024, to advertise higher financial cooperation between their respective nations. INQUIRER FILES
The Philippine Chamber of Commerce and Trade (PCCI) on Monday signed a memorandum of understanding (MOU) with a serious financial group in South Korea to advertise higher financial cooperation between their respective nations.
Throughout the signing of the MOU with the Federation of Korean Industries (FKI), PCCI president Enunina Mangio mentioned that the East Asian nation stays a key buying and selling companion of the Philippines, with vital investments in infrastructure, electronics, and power.
“As we transfer ahead, the potential for additional cooperation stays huge in lots of sectors, significantly within the fields of expertise, renewable power, agriculture, and innovation,” Mangi mentioned in his speech in the course of the Philippines-Korea Enterprise Discussion board on the Manila Resort.
“We imagine that with this settlement, and with the unwavering assist of the Korean Embassy in Manila, we will additional unleash a wave of alternatives that can strengthen our friendship in the direction of mutual prosperity,” she added.
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Underneath the MOU, each events will deal with power, protection, infrastructure, data and communication expertise (ICT), agriculture, manufacturing, tourism, companies, and the small and medium enterprise growth.
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Each additionally expressed dedication to coordinate in the direction of a standard motion plan on shared financial and industrial issues.
The 2 sides additionally pledged to assist each other in organizing symposiums, seminars, conferences, and different technique of commerce promotion.
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Additional, PCCI – the Philippines’ largest enterprise group – and the FKI dedicated to exchanging data on financial insurance policies and enterprise laws.
In accordance with the January 2024 knowledge from the Philippine Statistic Authority, two-way commerce in items between Manila and Seoul reached round $12 billion in 2023, with exports from Philippines totaling $3.5 billion whereas imports from South Korea stood at $8.48 billion.
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