PHL, Taiwan forge pacts designed to boost exports, ecozones, tourism

The Philippines and Taiwan expanded their economic and trade cooperation Friday with the signing of five letters of intent that capped off a trade meeting in Taipei.
 
Philippine Trade Secretary Gregory Domingo and Taiwanese Economics Minister Shih Yen-shiang also agreed to promote cooperation between the Philippines' economic zones and Taiwan's export processing zones.
 
"(Both) sides agreed to cooperate on expediting customs clearance, certifying merchandise, boosting the development of small- and medium-sized enterprises and using technology to add value to products," a report on Taiwan's Central News Agency quoted Huang Shih-chou, a spokesman for the Ministry of Economic Affairs' international cooperation arm, as saying.
 
Huang also said the joint effort to create added value could help Taiwan's sagging exports.
 
CNA said Taiwan's exports posted negative year-on-year growth in July for the fifth consecutive month, falling 11.6 percent to US$24.8 billion.
 
Also, Huang called for Taiwan and the Philippines to work together as free trade zones, saying this could facilitate the exchange of people and goods and help Taiwan tap into the ASEAN market.
 
Meanwhile, the two sides also exchanged views on promoting ecotourism, developing Taiwan's geothermal energy and cooperating in safeguarding intellectual property rights.

Sourced: gmanetwork