PRESS RELEASE

Philippine Embassy, Canberra

1 Moonah Place, Yarralumla, ACT 2600
www.philembassy.org.au    *Tel. No. 02-6273-2535*

24 January 2025, CANBERRA – The Philippine Embassy in Canberra proudly hosted the signing of a historic Memorandum of Understanding (MOU) between the Australia Philippines Business Council (APBC) and the Export Council of Australia (ECA) in a significant step toward fostering stronger economic ties and promoting bilateral trade and investment opportunities between the Philippines and Australia.

The signing ceremony, held on 22 January 2025, was led by APBC President Rafael Toda and ECA CEO Arnold Jorge and witnessed by Philippine Ambassador to Australia H.E. Antonio Morales and Minister and Consul General Aian Caringal. Ambassador Morales hailed the initiative as a pivotal moment in the growing economic collaboration under the Philippines-Australia Strategic Partnership to further unlock opportunities for mutual growth and prosperity.

The MOU aims to strengthen two-way trade and investment and promote cooperation in key areas such as trade and commercial promotion, capacity building, and networking. By aligning the efforts of the APBC, a national, non-profit organisation dedicated to maximising the potential of trade and investment between Australia and the Philippines, and the ECA, a peak body representing Australian exporters, this partnership aims to open new avenues for businesses to succeed in an increasingly interconnected global economy.

Before the MOU signing ceremony, APBC President Rafael Toda discussed the organization's recent accomplishments, including its significant contributions to advancing the Philippine-specific recommendations in the Southeast Asia Economic Strategy to 2040. He also unveiled APBC's work plan for 2025, a milestone year that marks its 50th anniversary. The APBC is the oldest business council in Australia and a private sector entity recognised by the relevant bodies of both the Australian and Philippine governments. - END