ASEAN-BAC Philippines, ASEAN-BAC Myanmar ink MoU for agriculture, MSME development

Chair of the ASEAN-BAC Philippines Mr Jose Ma A Concepcion III and Chair of the ASEAN-BAC Myanmar, U Aye Win signed a memorandum of understanding (MoU) on 5 September at the Sultan Hotel in Jakarta, Indonesia to cooperate in agriculture and MSME development, according to the Union of Myanmar Federation of Chambers of Commerce and Industry.
The agreement covers studies and guidance to contribute to the development of the value chains in agriculture, production, food security and safety, promising agriculture sector between the businesspersons and the institutions concerned, farmers working on a small, medium and large scale. It also elaborates on promotion of the trade and investment opportunities, technology exchange and setting the necessary economic requirements in service sectors. Then, it sheds light on improving effective strategies in bracing climate change and sustainable agricultural economics for the two nations.
At the roundtable dialogue held on 5 September at the Sultan Hotel, ASEAN-BAC Philippines inked the respective MoUs with the counterparts from Cambodia, Indonesia, Laos, Brunei, Myanmar, Singapore and Thailand.
ASEAN Business Advisory Council Myanmar (ASEAN-BAC Myanmar) was formed in 2003 after approval at the 7th ASEAN Summit, to serve the voice of the private sector and boost ASEAN’s efforts towards economic integration.
ASEAN-BAC Philippines was formed to promote economic models of the Philippines and good business environment, agricultural products and industrial transitions. — NN/EM