BUSINESS chambers from the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) on Tuesday signed a memorandum of cooperation (MOC) to expand the flow of goods and services within the subregion.
At the signing ceremony of the 1st PCCI BIMP-EAGA Forum in Manila, Philippine Chamber of Commerce and Industry (PCCI) President Enunina Mangio said that the MOC formalizes the members’ commitment to further develop trade, investment, industrial collaboration, as well as the growth of the halal industry.
Mangio added the PCCI wishes to be a certifying body for halal products, but “if not possible, because that is tedious, we want the halal-certifying body in the Philippines [to] be recognized.”
The MOC stipulates the parties shall cooperate to promote productive interaction among the business sectors of the BIMP-EAGA. This includes sharing and exchange of information, joint conduct of conferences, seminars, study tours and similar activities, investment missions, business-matching, activities, and any other mutually acceptable forms of cooperation.
Effective till Dec. 31, 2025, the MOC may be extended.
Co-signatories were National Chamber of Commerce and Industry of Brunei Darussalam President HJ Abdul Sman Hj Ahmad, Indonesian Chamber of Commerce and Industry representative Banjaran Indrastomo, The Malaysian International Chamber of Commerce and Industry-Sabah Branch Vice Chairman Datuk Susan Chang and BIMP-EAGA Sarawak Association Chairman Noble Pang.
Mangio pointed out that the BIMP-EAGA, which has a combined population of over 430 million, offers a strong market and talent pool with immense potential for growth and development, “where our cultural and economic commonalities offer unique opportunities for partnership and innovation.”
“Achieving these goals will require concerted efforts to reduce barriers, streamline processes and build stronger networks among our chambers and businesses,” he added.
The PCCI chief likewise emphasized the role of encouraging cross-border investments within the region, as well as the potential of other sectors such as agriculture, manufacturing and services, and tourism, which are vast and largely untapped.
“Investment [that] flows across our borders will drive the development of infrastructure, enhance technological capabilities and create new industries that can thrive within our integrated regional economy,” Mangio added.
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