Philippines’ President Ferdinand R Marcos Jr witnessed the presentation of two agreements to strengthen agricultural and economic cooperation between the two countries during the Philippine Business Forum at Royal Berkshire Hall, Royal Brunei Polo and Riding Club, Jerudong yesterday.
The first agreement signed was the memorandum of understanding (MoU) for Partnership in Agriculture and MSMEs Development between the ASEAN Business Advisory Council Brunei and ASEAN Business Advisory Council Philippines. The MoU establishes partnership for agriculture and micro, small and medium-sized enterprises (MSMEs) development to enhance economic integration, promote sustainable agribusiness practices and foster inclusive business model within the ASEAN region.
It also outlines cooperation in conducting studies, mentorship programmes and identifying trade and investment opportunities in the agriculture sector.
Meanwhile, the second MoU was signed between the National Chamber of Commerce and Industry Brunei Darussalam and the Philippine Chamber of Commerce and Industry (PCCI) to strengthen economic cooperation between both countries.
The MoU focuses on exchanging information, organising trade and investment missions and supporting different industries as well as establishing business councils in both countries to facilitate joint initiatives and outline dispute resolution mechanisms. – James Kon
