Philippine exporters and three Turkish business chambers have signed a memorandum of understanding to establish and develop commercial and industrial ties between the respective members and promote enhanced economic cooperation between the two countries.

The MOU was signed by Robert M. Young, trustee of Philippine Exporters Confederation of the Philippines (PhilExport), and top officials of the four Turkish Chambers – Adana Chamber of Industry, Ayden Chamber of Commerce, Eskisehir Chamber of Industry, and Trabzon Chamber of Commerce and Industry during the “forging Business Dialogue Platform Between ASEAN States and Turkiye” on Nov. 13 in Istanbul.

Both parties confirmed that the MOU) confirms both the Turkish Chambers and PhilExport’s “common desire to maintain and further promote cooperation and understanding for the purpose of promoting the development of trade and business relations between Türkiye and Philippines.”

The MOU also seeks to encourage, promote and facilitate effective cooperation in the areas of trade, investment, technology transfer and related economic and industrial activities by the use of electric and traditional communication channels between and among member companies of both the organizations with particular reference to the private sector.

Both parties also agreed to facilitate and expand economic and industrial cooperation between the two countries by exchange of information on relevant economic, commercial and industrial matters, including information on specific business opportunities available in Turkish Chambers.

They also commit to support each other in activities such as seminars, programs, courses and conferences to be organized in Turkish Chambers and PHILEXPORT with a view of enhance and strengthen bilateral economic ties.

They will also undertake programs and studies, which would be of benefit to their members to increase bilateral economic cooperation at the industry
and unit levels.

There will also be exchange of visits of industrial and business delegations between the two countries to expand cooperation between their members and facilitate exchange of information on commercial, industrial and economic laws and regulation between the two countries.

Both groups said they will assist members that will participate in the trade fairs and exhibitions held both in Philippines and Türkiye and also in the promotion of the respective trade fairs.