HONG KONG – The Department of Trade and Industry of the Philippines (DTI) through its attached agency, the Center for International Trade Expositions and Missions (CITEM) signed a Memorandum of Understanding (MoU) with its counterpart in Hong Kong, the Hong Kong Trade Development Council (HKTDC) to strengthen economic partnership between the Philippines and Hong Kong and increase bilateral trade activities for local companies in the two places.

The DTI through the Philippine Trade and Investment Center in Hong Kong (PTIC-HK) advocated for this MoU for almost three years to ensure that it would be mutually beneficial to all three parties involved.

The MoU was signed by Ms. Maria Lourdes D. Mediran, the Deputy Executive Director (DED) of the CITEM, and Ms. Sophia Chong, the DED of the HKTDC.

  • The MOU was signed by Ms. Ma. Lourdes D. Mediran, the DED of the CITEM, and Ms. Sophia Chong, the DED of the HKTDC.
  • The photo of the officials from the Philippines taken during the MoU signing ceremony on 21 April 2024.
  • The MoU signing ceremony between CITEM (right side) and HKTDC (left side) on 21 April 2024.
  • A group photo of the Philippine officials who attended the MoU signing ceremony on 21 April 2024. From right to left: The Vice Consul Commercial and Commercial Attache of PTIC-HK, Atty. Roberto B. Mabalot, Jr. (left most); The Deputy Executive Director of CITEM, Ms. Maria Lourdes D. Merdiran; Consul General of the Philippines in Hong Kong, Atty. Germinia V. Aguilar-Usudan; and, Chief Trade Industry Development Specialist of Fashion Lifestyle Division of CITEM, Ms. Anna Marie D. Alzona.

Under the MoU, the Philippines and Hong Kong will pursue further cooperation in various areas of mutual interest, including providing each other with information related to trade promotion activities, encouraging businesses from both the Philippines and Hong Kong to join events organized by the CITEM and HKTDC, and facilitation measures for Filipino companies, etc.

The Philippines and Hong Kong maintain close economic ties. In 2023, Hong Kong was the Philippines’ 6th largest trading partner, with total merchandise trade amounting to about US$10.85 billion. In 2023, the Philippines export of merchandise to Hong Kong totaled US$8.84 billion, while the Philippines imported US$2.01 billion worth of merchandise from Hong Kong.

For more information regarding the MoU between the CITEM and HKTDC, interested parties may contact the PTIC-HK at hongkong@dti.gov.ph, or follow the official Facebook page of the PTIC-HK at DTI Hong Kong. ♦

Date of Release: 06 May 2024

Related posts:

DTI Hong Kong encourages OFWs to do business in the Philippines, through TNK webinar DTI highlights the investment opportunities in the Philippines in Hong Kong’s BIP Asia 2023 PH delegation’s collaborative efforts: Advancing WTO agenda for trade and sustainable development South China bag manufacturer to operate in the Philippines in Q3; welcomes start of PH-EU FTA negotiation DTI bolsters stronger ties with potential Japanese investors through business mission DTI announces second shipment of Philippine mangoes to Australia, bolstering trade relations DTI showcases tastes of the Philippines at Taipei International Food Show 2023 DTI explores opportunities in the PH-AU Video Gaming sector through webinar