BCDA, Turkey business group forge partnership to enhance business cooperation in trade and investments

The Bases Conversion and Development Authority (BCDA) and one of the biggest business and industrialist organizations  in Turkey  have agreed to work together to foster mutual cooperation that will  pave the way for direct and mutually beneficial trade and investment opportunities between each other.

BCDA President and CEO Arnel Paciano D. Casanova said he recently signed a Memorandum of Understanding (MOU) with Hittite Industrialists and Businessmen’s Association (HITITSIAD) Chairman Teyfik Akpinar towards the establishment of effective platforms for cooperation  and expand channels of exchanges for joint business ventures in both the Philippines and Turkey or even in a third country.

“Our aim is to learn from each other. For instance, we will identify the best practices that we can adopt to ensure a long-term investment relationship with each other,” Casanova said.

He said the forged agreement will also promote inbound and outbound trade missions between BCDA and HITITSIAD.

“The inbound and outbound missions will not only  strengthen appreciation of actual business and industry conditions but  enable the speedy facilitation of potential investment agreements between HITITSIAD and  the BCDA administered zone,” Casanova said.

Casanova said the more than 150-member firms of HITITSIAD are potential investors and locators in the BCDA-administered economic zones and the country in general.  The BCDA administered freeports and special economic zones are the Clark Freeport Zone, Poro Point Freeport Zone, John Hay Special Economic Zone, and Bataan Technology Park which is located at the Morong Special Economic Zone.

He said the  inbound and outbound trade missions that will take place between the Philippines and Turkey  will pave the way for business matching  that will  eventually result in   HITITISIAD member firms to  locate and do business in the Philippines.

“Of course, we are not limiting the HITITSIAD firms to BCDA administered freeports or special economic zones.  If their business is more appropriate to be located in other freeports in the country, by all means we will endorse them to the appropriate freeport,” Casanova said.

He said what is important is to attract investments that will create jobs for the Filipinos towards inclusive growth for the country.

Casanova  noted that since last year, the BCDA has strengthened its business relations with Turkey through various inbound and outbound missions in cooperation  with the Turkey Chamber of Commerce of the Philippines (TCCP). The MOU signing with HITITSIAD was through the TCCP led by its president Irfan Karabulut.   “We laud the TCCP for the investment opportunities they are opening up for the country,” Casanova said.