CCCI and ARAIBA Sign MoU to Boost Philippines' Circular Economy

The Cebu Chamber of Commerce and Industry (CCCI) has entered into a Memorandum of Understanding (MoU) with Malaysia's ARAIBA Sdn Bhd, reinforcing its position as the Philippine country leader for the ASEAN Circular Economy Business Alliance (ACEBA).

The partnership, supported by the EU SWITCH-Asia Policy Support Component (PSC), will emphasize research, knowledge sharing, and business case development to expedite the nation's transition to a circular economy.

 “The MoU affirms CCCI’s commitment to championing the ASEAN Circular Economy Framework in the Philippines,” said ARAIBA chairman Thomas Thomas.

Before the signing, CCCI organized a workshop on opportunities in the circular economy, bringing together industry leaders, government agencies, and stakeholders, such as the Department of Environment and Natural Resources (DENR) and the Cebu City government.

Throughout the workshop, the discussions centered on innovative business practices, eco-friendly waste management, and financing solutions. A circular economy is an economic framework that focuses on maintaining materials in use instead of throwing them away as waste. It emphasizes reusing, recycling, and refurbishing items to prolong their duration of use. The primary goal is to reduce waste and pollution while fostering ecosystem recovery.

CCCI President Jay Yuvallos highlighted the increasing trend of circular economy adoption, stating that leading businesses in different sectors have started to incorporate circular economy practices.