The Philippines and China have signed a memorandum of understanding (MOU) to strengthen the established strategic cooperative relationship by focusing on the growth of electronic commerce between the two countries.
The Philippines and China have signed a memorandum of understanding to strengthen the established strategic cooperative relationship by focusing on the growth of electronic commerce between the two countries.
The MOU identified three areas of cooperation: Promoting trade of high-quality featured products and services; Pursuing business exchanges between MSMEs and e-commerce platforms, start-ups, and logistics service providers; and Sharing of best practices and innovative experiences in utilizing e-commerce.
“This agreement will facilitate the sharing of experiences, best practices, critical information, and policies related to trade and e-commerce. We look forward to interventions that will promote consumer and merchant protection, intellectual property, data security, and privacy laws. This MOU will be beneficial in building the capacity of our local businesses to cope with the modernizing business sector,” Pascual said.
Further, the MOU opens doors for possible collaboration between the Philippines and China in undertaking joint case studies and capacity building programs to enhance the knowledge and skills of MSMEs and maximize the potentials of e-commerce. Research institutions, industrial organizations, and local governments are also encouraged to utilize e-commerce as a means to develop cooperation.
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