Albay, Bohol ink agreement on trade, investments

TAGBILARAN CITY, Philippines  — Albay and Bohol have signed here recently an alliance agreement on trade and investment, exchange of competencies and leverage strategic advantages for enhanced and vibrant markets, which is bruited about as a first of its kind and a modern version of the historic “blood compact” in the late 1500s between Conquistador Miguel Lopez of Span and Bohol native chieftain Datu Sikatuna.

Albay Gov. Joey Salceda said the Albay-Bohol Economic Partnership Agreement (ABEPA) is designed to bring end results that should develop not only the two provinces but their respective regions. Albay is the regional hub of Bicol while Bohol nestles in the Central Vizayas Region.

The agreement aims to liberalize and facilitate trade in goods and services, increase investment opportunities and strengthen protection for investments and investment activities, and establish an expanded framework for further cooperation and improvement of business environment, among others, including peace and security, information and communications technology, education, employment and job generation, between the two provinces.

Salceda said “ABEPA is primarily an economic strategy that can answer challenges and opportunities of a dynamic and rapidly changing global environment brought about by globalization, and can generate beneficial results for parties involved.” It was authored on the Albay side by Provincial Board Member Ralph Andes.

Under the accord, he added. Albay and Bohol will also cooperate in the fields of tourism, disaster risk reduction (DRR), climate change adaptation (CCA) and initiatives towards the realization of the Millennium Development Goals (MDG), that will make it truly meaningful.

Albay has gained significant headway in DRR and CCA, and has institutionalized these programs in its provincial organizational set up, for which it was named by the United Nations as its global model in these fields. Albay had also attained the MDGs two years ago, well ahead of the 2015 global deadline, and has maintained its gains through its regular programs.   

Salceda said Albay and Bohol have long maintained warm relations and strong economic and political ties, including shared perceptions on various issues that have developed through fruitful and mutually beneficial cooperation. He signed the agreement at the Tropics Resort in this city, with Bohol Gov. Edgar M. Chatto and Vice Gov. Concepcion O. Lim and Albay Vice Gov. Harold Ong Imperial.

Bohol and Albay share many similarities. Both have a population of nearly 1.3 million people as of the 2010 census. They both also boast of world famous tourist attractions that draw thousands of foreign tourists year round. Bohol has its Chocolate Hills, while Albay has its almost perfect cone Mount Mayon, a live volcano that erupts every so often.

Also present during the accord signing were Albay’s 10 Provincial Board members, Cedric Daep of the Albay Provincial Safety and Emergency Management Office, Provincial Treasurer Pedro Ibasco, Jerisha San Jose of the Albay Millennium Development Goal Office, Millie Bueta of the Provincial Planning and Development Office, and Dorothy Colle of the Provincial Tourism Office.