PHL and HK sign MoU to boost trade ties

 

Citem and HKTDC officials show the newly-signed MoU

Trade marketing representatives from the Philippines and Hong
Kong signed a landmark pact on April 21 to strengthen economic activities and
increase bilateral trade between the two places.

The memorandum of understanding (MoU) was signed by the
Philippines’ Center for International Trade Expositions and Missions (Citem) deputy
executive director Maria Lourdes D. Mediran and her counterpart from Hong Kong Trade and Development Council (HKTDC),
Sophia Chong.

Among those who witnessed the signing were
Philippine Consul General Germinia Aguilar-Usudan and Vice Consul and Commercial
Attache Roberto Mabalot, Jr.

Philippine Consul General Usudan (2nd from left) was among those who witnessed the signing


Citem is an attached agency of the Department of
Trade and Industry of the Philippines, whose Hong Kong arm, the Philippine
Trade and Investment Center in Hong Kong (PTIC-HK) advocated for the MoU for
almost three years.

Under the MoU, the Philippines and Hong Kong will
pursue further cooperation in areas such as trade promotion, participation in events
organized by Citem and HKTDC, and trade facilitation for businesses on both places.

The Philippines has consistently ranked as the sixth
biggest trading partner of Hong Kong, with the total merchandise trade between
them amounting to US$10.85 billion last year.

A total of US$8.84billion worth of Philippine goods
were exported to Hong Kong during this year, and the remaining US$2.01 billion
was the amount of goods imported by the Philippines from the city.

For
more information regarding the MoU between the CITEM and HKTDC, please feel
free to contact the PTIC-HK at hongkong@dti.gov.ph. You may also follow the
official Facebook page of the PTIC-HK at DTI Hong Kong.  

 

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