MANILA, Philippines—The Philippine Chamber of Commerce and Industry (PCCI) is hoping to sign more agreements with its counterparts in other countries beyond Southeast Asia to further drum up trade.
PCCI president Miguel B. Varela explained that the signing of these memoranda of understanding (MOUs) would enable the group to organize business councils and expand trade and business opportunities for Philippine companies.
At the same time, the move is seen to complement the efforts of the Department of Trade and Industry to open up new markets for local businesses.
The MOUs will also allow PCCI to undertake “focused promotion” of various local industries, and possibly pave the way for the forging of partnerships or joint ventures, Varela explained.
PCCI is the largest umbrella organization of businesses in the country.
According to Varela, it has already signed agreements with roughly 40 countries, while a few new ones, such as an agreement with Kazakhstan, are now being worked out.
PCCI also hopes to sign agreements with more countries in Latin America, he further said.
Recently, PCCI signed an MOU with the Thailand Convention and Exhibition Bureau (TCEB), which was expected to pave the way for the exchange of information, support and business trade missions between the two countries.
In particular, PCCI hopes to establish long-term strategic partnerships in the growing Meetings, Incentives, Conferences and Exhibitions (MICE) industry in the region.