Magyar-Fülöp-szigeteki Gazdasági Együttműködési Vegyes Bizottság (GVB) harmadik ülése
The Third Session of the Hungary-Philippines Joint Committee on Economic Cooperation (JCEC) was held on 19 October 2021 in Budapest. The Committee is Co-chaired by the Deputy State Secretary for Export Development of the Ministry of Foreign Affairs and Trade of Hungary, Mr. István Joó and the Undersecretary of the Trade Promotion Group of the Department of Trade and Industry of the Philippines, Mr. Ceferino S. Rodolfo.
The Co-chairs commended the advancements in the areas of cooperation highlighted during the last JCEC meeting in Manila in 2020. The welcomed the stronger cooperation in the fields of water management, agriculture, energy and education. Among the ASEAN nations, the Philippines is Hungary’s 5th largest importing and 6th largest exporting partner, with a bilateral trade volume exceeding USD 161 million. Hungary is offering a tied aid loan of USD 33 million to the Philippines to contribute Hungarian expertise and technology to the rehabilitation of Laguna-lake and Manila Bay.
During the event, the Hungarian University of Agriculture and Life Sciences (MATE) signed to agreements with the Bureau of Plant Industry (BPI) of the Philippines and Barangay Don Bosco of Paranaque for joint research in urban farming. In the field of innovation, Hungarian incubator Startup Campus Inkubator Zrt. signed a partnership agreement with QBO Innovation Hub of the Philippines.
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