THE Philippine Stock Exchange (PSE) has entered into a memorandum of understanding (MoU) with the Taiwan Stock Exchange (TWSE) to formalize and strengthen the relationship between the two bourses.

On August 20, PSE President and Chief Executive Officer (CEO) Ramon Monzon and TWSE Chairman Sherman Lin led the signing of the MoU at the TWSE headquarters in Taipei.

The signing of the partnership is a response to Taiwan's policy efforts and a significant milestone for the cooperation between the capital markets of both Manila and Taipei.

Under the MoU, the two stock exchanges will collaborate on product development and market promotion, and share best practices in areas like regulations, ESG (environmental, social and governance) practices and market trends.

Monzon said he is looking forward to a meaningful partnership with the TWSE.

"I believe this MoU is a good starting point for the relationship between PSE and TWSE, and is key to fostering the friendship recently formed between us and exploring mutually beneficial endeavors for the two bourses," he said.

Both the PSE and TWSE will form a working group to carry out the objectives in the areas of cooperation covered by the memorandum.

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