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China and the Philippines have a memorandum of understanding on e-commerce.

The Philippines and China inked a memorandum of understanding (MOU) on electronic commerce on Thursday, according to the Department of Trade and Industry (DTI), strengthening their collaboration in this area.

On Wednesday, DTI Secretary Alfredo Pascual and Chinese Minister of Commerce Wang Wentao signed the MOU on E-Commerce during President Ferdinand R. Marcos Jr.’s state visit to China this week.

The two nations agreed to pursue business exchange between micro, small, and medium-sized enterprises (MSMEs), e-commerce platforms, startups, and logistics service providers; promote the trade of high-quality featured products and services; and share best practices and innovative e-commerce experiences under the terms of the MOU.

“This agreement will make it easier to exchange knowledge, best practices, important data, and regulations pertaining to trade and e-commerce. We anticipate initiatives that will support laws that protect consumers and businesses, as well as intellectual property, data security, and privacy. Building the capacity of our local enterprises to deal with the modernizing business sector would be a benefit of this MOU “says Pascual.

The E-Commerce Philippine 2022 Roadmap, he continued, aspires to strengthen cross-border collaboration and market access through trade agreements and cooperation programs with significant e-commerce trading partners. The MOU, he added, is in line with that plan.

The MOU will also promote programs to increase MSMEs’ knowledge and abilities so they may reach their full potential in e-commerce.

The Working Group on Electronic Commerce between Manila and Beijing would be created under the MOU and serve as the main hub for coordination between the two sides.

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