PITC celebrates 44th anniversary

PITC celebrates 44th anniversary

- in News, Philippines

The Philippine International Trading Corporation (PITC) recently celebrated its 44th founding anniversary at the Philippine International Convention Center (PICC). Leading the list of dignitaries in attendance were Sen. Cynthia Villar, Secretary of National Defense Delfin Lorenzana, and the Secretary of the newly formed Department of Information Communications and Technology (DICT) Rodolfo Salalima. They were welcomed by PITC President, Undersecretary Dave Almarinez.

The PITC, which is an attached agency of the Department of Trade and Industry, was established in July 21, 1973 through Presidential Decree (PD) 252 to be the pioneer in establishing Philippine trade with the Socialist and Other Centrally Planned Economy Countries (SOCPEC).

During the Duterte administration, the PITC under Usec. Almarinez has been instrumental in establishing trading ties with key businesses in Moscow, as well as being in the forefront in the establishment of Pharmazones, or economic zones for the local pharmaceutical industry.

According to Alamarinez, once established, these Pharmazones will be instrumental in improving the quality and reducing the price of medical and pharmaceutical products in the country. This is in line with President Duterte’s marching orders, which is to “help improve the lives of ordinary Filipinos by giving them access to low priced, high quality products and services.”

During PITC’s anniversary celebration, Almarinez also revealed that they recently signed Memorandums of Understanding with the DND and the DITC to assist these departments in their procurement processes.

“Being the trading arm of the Philippine government, the PITC has the necessary expertise to ensure a fair and transparent bidding process. And we would like to offer these services to all government offices and agencies.”

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