MoU signed between PHDCCI & FICCI (PHIL.) to promote trade with Philippines

PHD Chamber of Commerce and Industry (PHDCCI) and Federation of Indian Chambers of Commerce (Phil) Inc. on Friday signed a Memorandum of Understanding (MoU) as per which the two organizations have agreed to promote development of bilateral economic relations with specific focus on MSMEs among others by providing a platform for business meet, discussions and exploration of business opportunities in trade, investments, technology transfer, services and other sectors.

The MoU also provides for aggressively working with Governments of India and that of Philippines to also enhance people to people interaction which would develop into a mutually beneficial friendship between the two countries.

The MoU has been signed respectively by Presidents of PHD Chamber of Commerce and Industry and Federation of Indian Chambers of Commerce (Phil) Inc. (FICCI) Mr. Anil Khaitan and Mr. Rex Daryanani. The Principal Director of the PHD Chamber, Dr. Ranjeet Mehta was also present on the occasion among others.

As per other stipulations of the MoU, the two Chambers have also agreed to develop strong institutional, trade and business relations in order to establish a sustainable mechanism of dialogue and platform for discussions as also concurred to exchange information on general economic status, taxation investment opportunities, trade policies and legislative changes of their respective countries in a bid to strengthen trade technological and industrial collaboration between India and Philippines.

It also provides for to regularly exchange information publications and material concerning economic development, foreign trade and investment policies of their respective countries. In addition, it has also been agreed to establish effective and systematic consultation and cooperation particularly on the trade and investment policies of India and Philippines including specific policy developments in Members Countries.

Besides, it was also agreed between the two Chambers to co-operate on all program of trade promotion and commercialization between India, Philippines and other ASEAN Countries and assist each other in development of Pilot Projects in MSME sector in designated area in India, Philippines and ASEAN coordinated by both PHD Chamber and FICCI.

Powered by Capital Market - Live News