TIM eMagazine Vol.3 Issue 8
Filipino and Papua New Guinean business
community launches business council
Department of Trade and Industry
Secretary Ramon Lopez (second
from left) witnesses the oath-taking
ceremony of the officials of
Philippine-Papua New Guinea
Business Council (PH-PNGBC)
on November 16, 2018 in Port
Morseby, Papua New Guinea.
With the establishment of the
PH-PNGBC, both countries aim to
strengthen their business, economic,
social, and cultural ties
Credits : dti.gov.ph
T
HE Filipino and Papua New Guinean business community
recently launched the Philippines-Papua New Guinea
Business Council (PH-PNGBC) to help promote and
strengthen the business, economic, social and cultural ties
between the Philippines and Papua New Guinea.
The launching ceremony, which was held on November
16, 2018 in Port Moresby, Papua New Guinea, was followed
by the oath-taking of the business council officers. It
was the same day that the Memorandum of Agreement on Joint Rice
Development Project was signed by both countries.
Among the Filipino officials who witnessed the ceremony were
Philippine Ambassador to Papua New Guinea Bienvenido Tejano,
Department of Trade and Industry (DTI) Secretary Ramon Lopez, other
government officials, as well as representatives from the private sector.
High-ranking government officials from Papua New Guinea also graced
the event, including Agriculture Minister Benny Allan, Speaker of the
National Parliament Job Pomat, Minister for Trade and Commerce Wera
Mori, and Pacific Advantist Vice Chancellor Dr. Raul Lozano.
According to the officials, the launch of the business council was timely,
since both countries signed a Memorandum of Understanding (MOU)
that established the Joint Economic and Trade Committee or JETC, a
formal consultation mechanism for the discussion of trade, investments,
economic cooperation, and other sectors or areas of mutual interests.
The MOU was inked on the sidelines of the APEC Economic Leaders’
Meeting.
As it is envisioned to complement the initiatives pursued under the
JETC, the PH-PNGBC aims to strengthen the ties of the private sectors
from both countries and enable them to work together and support the
growing trade, investment and economic engagements between the
Philippines and Papua New Guinea.
The council is open to legitimate Filipino and Papua New Guinean
businesses who wants to avail of its membership. Through this, members
can attend host seminars, conferences, trade and investment briefings,
trade missions, matchmaking and networking events.
With the launching of the business council, the DTI expects that the
Philippines will have a more vigorous trade and investment relationship
with Papua New Guinea. Among the sectors that the two nations can
explore are technical skills development, education services, medical
services, construction, and agri-tourism.
www.dti.gov.ph
According to the officials, the launch of the business council was timely, since both
countries signed a Memorandum of Understanding (MOU) that established the Joint
Economic and Trade Committee or JETC, a formal consultation mechanism for the
discussion of trade, investments, economic cooperation, and other sectors or areas of
mutual interests.
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