|
Thursday, October 06, 2005
Mindanao, Australia biz sectors forge cooperation
STRATEGIC development cooperation on creating and sustaining business opportunities in Mindanao and Australia within the context of Brunei Darussalam-Indonesia-Malaysia-the Philippines-East Asean Growth Area (Bimp-Eaga) sub-regional economic cooperation is forged here recently.
The Mindanao Business Council (MBC) and the Australia-Bimp-Eaga Business Council Inc. (ABEBC) agreed to become strategic business or joint venture partners in carrying out strategic planning, development and collaborative efforts to advance and strengthen business opportunities within Bimp-Eaga and Australia.
MBC chair Antonio Santos and ABEBC chair Graeme Lacey signed the Memorandum of Understanding (MOU) on September 17, during the 14th Mindanao Business Conference (Minbizcon) held in Davao City.
The agreement was forged so that the mutual relationship would be translated into economic opportunities for both Australia and Mindanao, within the context of Bimp-Eaga cross-border trade, tourism and investment collaboration.
According to Secretary Jesus Dureza, chair of the Mindanao Economic Development Council (Medco), the newly forged MOU is seen to create concrete gains out of the ongoing engagement of Australia's Northern Territory in the Bimp-Eaga, particularly in Mindanao.
"This development cooperation augurs well for both areas, most especially for Mindanao where economic potentials can largely contribute to accelerating economic growth and investments in Bimp-Eaga," Dureza said.
Northern Territory has been considered as a development partner of Bimp-Eaga and is therefore allowed to engage in joint trade and investment undertakings in the sub-region particularly in the areas of tourism, agro-industries, transportation, human resource development, mineral resources, construction materials and information communication technology.
Under the terms of the MOU is the creation of a steering committee tasked to coordinate and foster this strategic development and co-operation.
The committee shall formulate a five-year Strategic Action Plan designed to "create and strengthen mutually beneficial commercial and training linkages between the parties and the Australia/Bimp-Eaga region and beyond."
As a business association based in Northern Territory, ABEBC's practical experience in trading within the region can provide prospective traders and investors from both areas background information on the protocols of doing business within Australia and Bimp-Eaga as well as an understanding of logistics, including shipping requirements within the sub-region.
ABEBC could also promote joint venture, business and training activities in Bimp-Eaga as well as market the Mindanao products and services in the sub-region and its external markets.
Meanwhile, the MBC could equally serve as an active partner in developing and facilitating access to a wide range of business opportunities for Mindanao and Bimp-Eaga business stakeholders.
For Bisaya stories from Davao. Click here. (October 6, 2005 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
