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Sunday, July 14, 2024

DTI empowers MSMEs to go global with free trade agreements

international partnerships. Representatives from the embassies of Australia, Indonesia, and China participated in the event, showcasing the potential for stronger trade partnerships within the RCEP framework.

First Secretary Simon Raid of the Australian Embassy in the Philippines emphasized the strong bond between Australia and the Philippines. He highlighted Australia’s large Filipino community, with over 300,000 Filipinos, making them the country’s fifth-largest diaspora group. This significant presence creates a natural opportunity for closer collaboration, particularly in trade. He stated that this potential partnership views the RCEP as a key area.

“This event is very timely for Indonesia since, if we look at the theme of “Empowering Philippine Export Industries of Northeastern Mindanao,” it is very contextual in our bilateral relations since just a couple of months ago, Mindanao and the northern part of Indonesia just reactivated direct flights from Davao to Manado,” said Minister Dodo Sudradjat, Deputy Chief of Mission and Head of Chancery of the Embassy of the Republic of Indonesia to the Philippines. 

He underscored the importance of connectivity, emphasizing that it transcends physical proximity; the critical element is comprehending the necessary connections and how economic factors can enhance each other.

Second Secretary Zhao Chen of the Embassy of China to the Philippines acknowledges the challenges faced by RCEP member countries, including global economic issues, changing consumer demands, and slow economic growth. 

However, she emphasized the RCEP agreement as a powerful tool to address these challenges. By working together and effectively implementing the RCEP, member countries can create a larger regional market. According to her, this will not only significantly boost regional economic growth but also bring much-needed stability to the global economy.

“China, as the largest economy within RCEP’s framework, will keep working closely with other members to unlock the full potential of the agreement and our region. Together, we will build a prosperous region through agreement and win-win cooperation,” she added.

The DTI’s International Trade Group, Regional Operations Group, Industry Development and Investment Promotions Group, and the RAPID Growth Project organized the campaign. (APB/PIA-10)

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