US chamber, Philsmed mull matching program for small, medium firms

The US Chamber of Commerce and the Philippine Small and Medium Business Development Foundation (Philsmed) are setting up a program to bring together Filipino and American SMEs.

Mark van Fleet, managing director for international business development of the US Chamber of Commerce, said yesterday that the chamber has an international business partnering program designed to help foreign companies meet the right partners in the US for trade, investment, buying and selling.

"The program benefits both parties in terms of better relations," Van Fleet said.

"Unlike joining trade fairs, the partnering program allows both parties to establish a relationship first which would then enhance their eventual meeting," he added.

Most often during trade fairs, Van Fleet pointed out, the two parties meet each other for the first time and thus, have difficulty in establishing a working relationship.

"However, the US Chamber opts to establish the program by working together with local institutions such as the Philsmed, the Department of Trade and Industry and even the banking institutions," he added.

Among the sectors that the US Chamber of Commerce has identified for possible assistance are agribusiness, information technology and software development, call centers and back office operations.

The program, Van Fleet said, has been done in Thailand and Singapore.

What is being envisioned in the Philippines would be a three-year program that would initially involve some public sector funding either from the US or the local government or a combination from both countries.