Philippines pursues stronger trade, investment ties with Malaysia | Writer : 관리자(fran@world-expo.co.kr) Date : 19.03.08 Hits : 826 |
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Philippines pursues stronger trade,
investment ties with Malaysia MANILA, Philippines ? The Philippines wants
to expand trade and investment ties with Malaysia by taking advantage of
opportunities available in agriculture, manufacturing, technology and
innovation, halal and infrastructure. “Through stronger engagements in trade and
investment, we are sure to expand our bilateral trade relations and solidify
even further the ties between our two countries,” Trade Secretary Ramon Lopez
said during the Philippines-Malaysia Business Forum. He said there are opportunities for both
countries to promote partnerships and to increase trade in various sectors. “On our end, the Philippines is interested
in pushing for agriculture, processing of high-value and value-added products
and services, as well as technology and innovation that would address the
Fourth Industrial Revolution,” he said. He said another area which offers
opportunities for both countries is halal. To be considered halal, a product or
service must follow the prescribed process of preparation according to Islamic
law and be officially recognized by halal certification agencies. In addition to halal, Lopez said the two
countries could work together in developing barter trade in Mindanao. In October last year, President Duterte
signed Executive Order 64 which seeks to revive the barter trade system to
promote growth and development in Mindanao. The government is currently working on the
rules covering the mechanism for the valuation of goods, allowable goods, and
measures to prevent smuggling and circumvention of customs laws for the revival
of barter trade in Mindanao. In terms of investment, Lopez said the
Philippines would want to develop more business matches in infrastructure
development. At present, there are Philippine and
Malaysian companies with operations in the two countries. Among Philippine firms with presence in
Malaysia are Ayala Land Inc. through its interest in property and construction
firm MCT, Aboitiz Equity Ventures Inc. through food subsidiary Pilmico
International, and Jollibee Foods Corp. Link->https://www.philstar.com/business/2019/03/08/1899524/philippines-pursues-stronger-trade-investment-ties-malaysia |
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