Singapore business group forges pact with CFBC

President Arroyo witnessed the formal signing of a memorandum of understanding (MOU) between the Singapore Confederation of Industries Inc. (SCI), one of the largest coalition of businessmen in Singapore, and the Chinese Filipino Business Club Inc. the other night.

One of the highlights of President Arroyo’s state visit to Singapore, the signing ceremonies, led by CFBCI president Dante Go and SCI president Robin Lau, was held at a dinner at the Mandarin Oriental Hotel hosted by the Philippine-Singapore Business Council (PSBC).

The MOU aims to create a more harmonious business relationship between the two organizations through the exchange of information and business contracts among their members and their affiliates. This will keep both associations well-informed on affairs involving mutual concerns. It is hoped that reciprocation of business contracts would facilitate trade expansion and serve as a foundation of interaction with other groups of similar nature.

The two groups also agreed to develop their on-line trade directories by maximizing the use of electronic commerce for increase efficiency on transactions and information dissemination.

To further strengthen fellowship, both agreed to host and attend trade exhibits and have an exchange of trade and investment missions in both countries. This will seal the distant interaction between the two organizations by personally interacting and encouraging members of each organization, composed of business leaders engaged in various industries, to form delegations to visit their counterparts in the Philippines and Singapore.

In each mission, both parties hope to conduct pro-business discussions and market-friendly exchange of ideas beneficial to both.