Written by Roy Tomandao, Manilastandard.Net

The Philippine International Trading Corp. recently hosted and organized the successful 1st National Conference on Industrial Cooperation Program at the Philippine International Convention Center.

PITC president and CEO Dave M. Almarinez welcomed guests from various government agencies and private companies.

In his message, Almarinez encouraged the participants to understand the program so they can integrate and implement the Countertrade provision in their respective agencies’ procurements to leverage on the numerous benefits of ICP as a toll for economic and industrial development of the country.

Executive Order No. 120 directs all government agencies to adopt Countertrade as a supplemental trade tool with respect to the importation or procurement of foreign capital equipment, machinery, products, goods, and services.

PITC is the sole implementing agency of the EO and plays an important role in pursuing its efficient implementation, Almarinez noted.

The participants had the chance to openly ask questions from guest speaker Dato’ Zailani Safari, Chief Executive Officer of the Technology Depository Agency — the office that plans and manages all offset programs of Malaysia — about the benefits of the new global trend in Countertrade and Offsets Program as experienced in their country.

Safari expounded the positive impacts of the ICPs – capacity and capability building, job creation and human capital development, sustainability of local companies through knowledge and skills shared by industry partners, and wealth generation from investments made.

The event has been a real eye-opener to participants from Philippine government agencies founded on the successful mandatory implementation of ICP in Malaysia.