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PH diversifies trade, industry cooperation with Turkey and Hungary
Following President Duterte’s vision to diversify and strengthen the country’s trade and investment relationship with other countries, the Philippines (PH) has revived the Joint Committee on Economic and Technical Cooperation with Turkey, followed by a series of fora with ministerial and business chambers in Hungary. The Trade & Investment Mission will be led by DTI Secretary Ramon Lopez, from February 5 to 9, 2018, which aims to promote as well the exports of more Philippine products to both markets and attract Turkish and Hungarian investors to do business and establish their operations in the country. Co-organized by the Board of Investments (BOI) through the International Investments Promotion Service, Philippine Trade & Investment Centers (PTICs) in Paris and Berlin (with jurisdiction on Turkey and Hungary, respectively), and the Philippine Embassies in Ankara and Budapest, the Mission is in conjunction with the inaugural Philippine-Turkey Joint Committee for Trade, Economic and Technical Cooperation (PH-TR JCTEC) on February 6, 2018 in Ankara, Turkey. The Framework Cooperation agreement with Turkey was signed in 1999, but the talks have not advanced. “The Philippines’ engagement with Turkey and Hungary is in line with the current Administration’s strategy of rebalancing investment and trade relations with non-traditional partners through the pursuit of an independent foreign policy. With the country’s solid economic fundamentals built on the upbeat confidence of investors on the Duterte administration’s reforms and programs to create sustainable growth, we are positive of getting more investments from our foreign economic partner countries such as Turkey and Hungary as we continue to promote the country as a prime investment destination,” said Sec. Lopez. The Trade Secretary is joined by a 6-member delegation... read moreSouth Korea Delegation keen on strengthening ties with the Philippines
Makati City, Philippines – The Department of Trade and Industry (DTI), through the Construction Industry Authority of the Philippines – Philippine Overseas Construction Board (CIAP-POCB), and the Board of Investments, with the Commercial Section of the Philippine Embassy in Seoul, Korea received a delegation of twelve (12) Korean companies on 29 to 30 January 2018. The Business Forum held on 30 January 2018 at the Sofitel Philippine Plaza gathered over a hundred distinguished government representatives and movers in the construction, infrastructure, and energy industries, led by DTI Undersecretary for Competitiveness and Ease of Doing Business Rowel S. Barba, Philippine Ambassador to Korea Raul Hernandez, ASEAN-Korea Center Secretary General Ambassador Young-sun Kim, and Republic of Korea Ambassador to the Philippines Dong Han Man. Presenting opportunities in the Philippines were Board of Investments Director Angelica Cayas on Investments and Build Build Build Committee Chairman Anna Mae Lamentillo and PPP Director Frances Yani Domingo on the Philippine Government’s infrastructure projects. International Contractors Association of Korea (ICAK) Deputy General Tae-wan Kim and counterpart Philippine Overseas Construction Board Member Mr. Michael Robert Reyes were also in attendance. CIAP, though the POCB, endeavors to cultivate strategic ties with South Korea with the end in view of developing the construction industry of both nations. One-on-One Business Meetings between Korean and Filipino companies followed the forum to discuss areas of collaboration on infrastructure, energy, and construction, both in the Philippines and in Korea. Over dinner of Pampango cuisine, the Philippine Contractors Accreditation Board (PCAB), one of five implementing boards of the Construction Industry Authority of the Philippines, discussed the licensing and accreditation process for... read more