TWO business chambers in Cebu have entered into a memorandum of understanding (MOU) with the Spanish Chamber of Commerce in the Philippines (La Camara) in a step towards fostering international trade and cooperation.
The agreement was signed on Saturday. Oct. 12, 2024, signaling the commitment of the Cebu Chamber of Commerce and Industry (CCCI) and Mandaue Chamber of Commerce and Industry (MCCI) and La Camara to strengthening business ties between Cebu and Spain.
The MOU was signed by Jay Yuvallos, president of CCCI and Mark Anthony Ynoc, president of MCCI and Ruben Camba, president of La Cámara.
The agreement was witnessed by key figures from each organization, including Melanie Ng, area vice president of the Philippine Chamber of Commerce and Industry, Kelie Ko, past president of MCCI and Silvia Torices, Economic and Commercial counselor from the Embassy of Spain.
The MOU outlined a common goal of strengthening collaboration in critical areas such as trade, tourism, agriculture, technology and innovation. The business chambers acknowledged the vital role closer partnerships between the business communities of Cebu and Spain can play in fostering mutual economic growth.
The chambers also commit to regularly sharing valuable information relating to the industrial, trade, tourism and agricultural sectors, which will help achieve the MOU’s goals.
The agreement also stipulates that the chambers will notify each other about important international exhibitions, fairs, seminars and other key business events. This will enhance the visibility and participation of both regions in global markets.
The chambers have also agreed to coordinate trade missions and business meetings with ample preparation time to ensure productive outcomes. The goal is to foster business contacts that could lead to mutually beneficial partnerships and trade deals.
In an interview, Yuvallos said the chamber lauded the partnership with La Camara, especially since Cebu needs mega projects.
He thanked Cebu Gov. Gwen Garcia for “trailblazing initiatives for the benefit of all Cebuanos.”
“La Camara president Ruben Camba and I have agreed to meet very soon to discuss the next steps to realize what is embodied in the MOU.
We are looking forward to more projects for Cebu from their side and have initially discussed ways to get our SMEs (small and medium enterprises) to participate in these projects. We have to anticipate and prepare for them,” said Yuvallos.
“We appreciate not only the investment, more so the expertise, deployment of resources and their ability to breakthrough challenges. We need more of these mega projects. Exciting times ahead for Cebu,” he added.
Meanwhile, MCCI president Mark Anthony Ynoc said a trade mission to Spain is one of the things they are looking forward to following the signing of the MOU.
“That’s part of our plans. Very soon, we’ll be having a series of meetings to come up with specific programs that are aligned with our advocacies and interests,” said Ynoc.
La Cámara hosted a business forum on Saturday themed “Cebu Rising: Transforming Growth with New Infrastructure, Water, and Renewable Energy.” The conference was also a featured event in the celebration of “Día de la Hispanidad,” which honors Spain’s cultural contributions and influence in various countries worldwide.
The conference was attended by key stakeholders from the private and public stakeholders and Spanish businessmen. / KOC