The European Chamber of Commerce of the Philippines (ECCP) is planning to tie-up with the Philippine Chamber of Commerce and Industry (PCCI) to encourage more European businesses to check out opportunities here.

ECCP vice president for external affairs Henry Schumacher said in a text message the ECCP recently met with the PCCI to discuss how they can work together under the European Union (EU)-Philippines Business Network (EPBN).

The EPBN seeks to encourage networking activities of small and medium enterprises (SMEs) from the trade bloc and the Philippines.

“European business organizations have launched an EU Commission co-financed project called EPBN that is tasked to bring EU based SMEs to the Philippines and match them with business opportunities or Philippine SMEs. PCCI is interested to partner in this endeavor to create win-win deals for the Philippines and for the ASEAN (Association of Southeast Asian Nations) economic integration,” he said.

The two business groups are currently preparing a memorandum of agreement that will outline the tasks of both parties.

“We are drafting it at the moment. Signing will be in the first half of August,” Schumacher said.

As the ECCP wants to encourage more European SMEs to do business here, the PCCI also wants to promote partnerships between local and foreign firms.

PCCI president Alfredo Yao said earlier the business group is

promoting the Philippines as a potential hub in the region to foreign firms and the group’s partner business councils in other countries.

“We are looking for them to invest here and use the Philippines as hub for the ASEAN market,” he said.

This, as the ASEAN economic integration which is expected by the end of 2015, seeks to allow free flow of goods, services, skilled labor, investments and capital within the region.

Yao noted that among the advantages of the Philippines over its peers in the region is the availability of Filipino workforce who can speak the English language and can easily be trained.

Business groups want to encourage more foreign investments to be made in the country in order to create jobs.

Source: The Philippine Star Sunday, 03 August 2014