On Jan. 4, 2023, during President Ferdinand Marcos Jr.’s state visit to China, the Philippines’ Department of Trade and Industry (DTI) signed a memorandum of understanding aimed at focusing on the growth of e-commerce in China.
The MOU on Electronic Commerce Cooperation hopes to promote trade of high-quality featured products and services, pursue business exchanges between MSMEs and e-commerce platforms, start-ups, and logistics service providers and share best practices and innovative experiences in utilizing e-commerce.
“This will also operationalize Agenda #17 of the e-Commerce Philippines 2022 Roadmap concerning the enhancement of cross-border cooperation and market access through trade agreements and economic cooperation programs with major e-commerce trading partners,” said Trade Secretary Alfredo Pascual.
The memorandum will also enable the two countries to collaborate on capacity-building programs for micro, small, and medium enterprises and explore more opportunities for e-commerce.
“Research institutions, industrial organizations, and local governments are also encouraged to utilize e-commerce as a means to develop cooperation,” the DTI said in a media advisory.
A Working Group on Electronic Commerce will also be established to be the focal point of coordination and the main source of information.
“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.