THE CHAMBERS of Commerce from Brunei Darussalam, Indonesia, Malaysia, and the Philippines East ASEAN Growth Area (BIMP-EAGA) signed a landmark memorandum of cooperation (MOC) to develop key sectors and a particular focus on the halal industry.
The signing ceremony was held on Aug. 20 at The Manila Hotel during the 1st Philippine Chamber of Commerce and Industry (PCCI) Trade, Investment, and Halal Industry Conference, together with the National Chamber of Commerce and Industry of Brunei Darussalam, the Indonesian Chamber of Commerce and Industry, the BIMP-EAGA Sarawak Association, the Malaysian International Chamber of Commerce and Industry, and the PCCI.
In his keynote speech, Leo Tereso Magno, Mindanao Development Authority (MinDA) chairperson, emphasized the critical role of the private sector in the success of BIMP-EAGA as a sub-regional economic cooperation.
“BIMP-EAGA’s success hinges on the cooperation, inspiration, and support of the private sector. We extend our gratitude to private sector groups for initiating conferences like this, which remind us that we are indeed partners in growth,” Magno said.
By signing the MOC, the signatory chambers pledge to promote greater cooperation between the business sectors of BIMP-EAGA, which will lead to more investments and economic activity in the sub-region.
Under the agreement, key initiatives include the collaborative holding of conferences, forums, and business-matching events in order to foster constructive engagement and strengthen economic connections.
Joji Ilagan-Bian, PCCI BIMP-EAGA Committee chairperson, also highlighted the importance of involving micro, small, and medium enterprises (MSMEs) in the area’s investment ecosystem, calling for stronger government support in establishing sub-regional connectivity to sustain trade and investment flows.
“We also hope that this will lead to stronger government support and policies, particularly in establishing sub-regional connectivity, which is imperative for productive and sustained trade and investments within BIMP-EAGA,” Ilagan-Bian added.
The conference is organized by PCCI and MinDA, in partnership with the Department of Trade and Industry, and supported by the Philippine Exporters Confederation (PHILEXPORT), the United States Agency for International Development, the USAID Regulatory Reform Support Program for National Development, and the University of the Philippines Public Administration Research and Extension Services Foundation.
Photo from MinDA
