Post-WEF, PH, Malaysian firms identify specific growth areas

MANILA, Philippines – Philippine and Malaysian companies have mutually identified specific opportunities for supplying and marketing agricultural, industrial, infrastructure, and professional services, the Philippine Chamber of Commerce and Industry (PCCI) shared Monday, June 2.

PCCI President Alfredo Yao said the meeting between 12 Malaysian companies and more than 60 Philippine companies happened in May during the business-to-business matching at the World Economic Forum (WEF) on East Asia.

The peace agreement in Mindanao and the Brunei-Indonesia-Malaysia-Philippines or BIMP East ASEAN Growth Area boosted the opportunities for amplified trade, Malaysian businessmen noted.

The Malaysian companies representing sectoral groups such as ICT, agriculture, engineering and construction, and service provider companies such as insurance management services accompanied Malaysia’s Minister of International Trade and Industry Dato’Sri Mustapa Mohamed when he attended WEF on East Asia held in Manila on May 21-23. The PCCI was represented by board directors Donald Dee and Ramon Escueta.

In a roundtable meeting with selected businessmen from the PCCI, Philippines-Malaysia Business Council, Federation of Filipino-Chinese Chambers of Commerce and Industry, and other business groups, Mustapa listed potential business collaboration available in Malaysia, particularly in the Sabah and Sarawak regions. Identified for collaboration with the Philippines were rubber, fruit and seafood exports, and logistics.

Downstream industries such as crude oil, biomass, petrochemicals and petrochemical derivatives can also be developed by both countries. Sabah’s requirements for transfer of technology and skilled manpower were also noted.

PCCI—the biggest business organization in the country—took advantage of the meeting as an opportunity to build a relationship and lobby their interests, Yao said. Moving forward, the PCCI and its Malaysian counterpart will be assisting companies through product listings, setting up appointments, putting together conferences, and participating in trade fairs. – Rappler.com

Handshake image from Shutterstock

Asian traditional vegetable market image from Shutterstock