More trade exchanges ahead for Cebu, Canada

CEBU, Philippines - The Canadian Chamber of Commerce of the Philippines (CanCham) has formally inked an agreement with the Cebu Chamber of Commerce and Industry (CCCI) to invigorate trade and investment exchanges between Canada and Cebu.

A memorandum of cooperation (MOC) was formally signed Tuesday by the two leading business chambers represented by CanCham President Julian Payne and CCCI President Lito Maderazo.

Payne said although Cebu and Canada have had years of business cooperation, it is important to take a stronger grip of partnership with the local investors in order to promote mutual awareness on opportunities.

Cebu has good potential to maximize its trading penetration to Canada, specifically in the fields of agri-business, tourism, education and information and communication technology (ICT).

However, promotion of these opportunities to Canadian investors is still weak. Part of the two chambers' plan is to hold series of joint trade missions to Canada, and vice versa.

Likewise, the partnership also is seen to improve people mobility, transfer of technology and contact building in both countries.

Maderazo, on the other hand, said that the partnership is seen to enhance Cebu's visibility to Canadian investors, as well as opening doors for Cebuano companies to learn and connect with Canadian business players.

Even before the signing of the MOC, the two chambers had already done development projects together. The most recent was the support of  CanCham to CCCI's relief operations to Bohol, Northern Cebu and Tacloban.

A total of  P100,000 was donated by CanCham through CCCI to focus on providing livelihood development programs to areas that were badly hit by the two recent disasters.

CCCI has coordinated with the Cebu provincial government in the livelihood development program efforts in Northern Cebu and Bohol, Maderazo said, adding that the chamber is in fact part of  the provincial government's livelihood and commerce cluster.

"There are a lot of opportunities in the provinces," he said. "Part of the livelihood program is to teach farmers and fishermen improve their trade and unlock new ways of doing their skills."

CanCham installed its Cebu chapter in 2010. Now, it has 50-member companies here. In the Philippines, the Canadian business group has over 250 members. /JMD (FREEMAN)