(Photo Caption) PBCI and CEZA signed cooperation agreement. In the photo (left to right) Mr. Norwin Mark Castro, Secretary General of PBCI, Chairman Antonio B. Capati, Ambassador Leehiong Tan Wee, Secretary Raul M. Lambino, CEO and Administrator of CEZA, Mr. Jomar Agabin of CEZA, and Commercial Attaché Jeremiah C. Reyes, PTIC – Jakarta. Photo from DTI Websites

The Philippines and Indonesia called for strengthening of economic ties with the recent signing of several business deals during the 1st Philippines-Indonesia Economic and Investment Summit in Jakarta, Indonesia this week.

In a statement on Thursday, the Department of Trade and Industry (DTI) said the business-to-business deals inked covered digital tourism, travel and tours, investment promotion, agriculture, e-commerce, and financial technology.

“The historic 1st Philippines-Indonesia Economic and Investment Summit is a testament to our alliance and friendship,” Philippine Business Club Indonesia Chairman Antonio Capati said in a statement.

Capati stressed the importance of furthering the economic partnership between countries in order to maximize the opportunities available in the Association of Southeast Asian (Asean) region.

Philippine Ambassador to Indonesia Leehiong Tan Wee shared the same sentiment, noting that the “summit could not be more timely, as the Philippines and Indonesia are both poised as the new emerging economies in the region posting some of the world’s fastest economic growth.”

Philippine Trade and Investment Center (PITC)-Jakarta Commercial Attaché Jeremiah Reyes, meanwhile, said the summit opened more opportunities for both countries to work together in different business ventures.

“The summit is not just a celebration of endearing friendship, but also the identification of potential areas that we can partner and collaborate,” Reyes added.

Cagayan Economic Zone Authority CEO and Administrator Raul Lambino was also present in the summit, presenting possible ventures in Cagayan region, including fintech.

The summit was hosted by PBCI in partnership with DTI through PITC – Jakarta, Embassy of the Philippines and the Indonesian Chamber of Commerce and Industry.

In April, Trade Secretary Ramon Lopez had a meeting with Indonesian officials, raising trade and investment concerns.

DTI requested for the promotion of the following sectors in Indonesia: cosmetics, smart cards, electronic integrated circuits, parts and accessories of motor vehicles and office machines, copper cathodes, transmission shafts, ignition wiring sets, parts and accessories of motor vehicles.

https://www.manilatimes.net/ph-indonesia-ink-trade-deals/573097/