The Philippine International Trading Corporation (PITC) thru its President and CEO Usec. Emmie Liza Perez – Chiong, DMD signed a Memorandum of Agreement with the Philippine Coast Guard (PCG) thru its commandant CG ADM Artemio M. Abu on the integration of the Countertrade Program in their foreign procurement and importation. Through this strategic partnership, the PCG is poised to benefit from the advantages offered by the Countertrade or Industrial Collaboration Program (ICP). The initiative aims to bolster the capacity of PCG members, equipping them with the necessary resources and support to fulfill their mandate effectively.
With this collaboration, PITC and the PCG are working hand in hand to ensure a stronger and more proficient PCG, leading to safer waters and improved maritime security. The integration of the Countertrade Program marks a significant milestone in fostering cooperation between these two organizations, ultimately serving the greater interest of the nation.
*Countertrade is a form of international trade in which purchases made by an importing country are linked to offsetting purchases made by the Exporting country. Worldwide, countertrade is used to leverage government importations with trade, investments and technology to be provided by government suppliers.