India, Philippines Review Trade Ties, Explore Cooperation in Infra, Other Sectors

New Delhi, Jun 5 (KNN) India and the Philippines reviewed bilateral trade and investment relations during the 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) held in Manila on June 5, with both sides exploring new avenues of cooperation across multiple sectors.

The meeting was co-chaired by Amit Verma, Joint Secretary in the Department of Commerce, Ministry of Commerce and Industry, India, and Allan B. Gepty, Undersecretary of the International Trade Group at the Philippines' Department of Trade and Industry.

Officials from various ministries, departments and organisations of both countries also participated through video conferencing.

Both sides noted the continued growth in bilateral trade, which reached USD 3.9 billion during 2025-26.

 Discussions focused on trade and investment trends, identification of priority products and services, and opportunities to strengthen cooperation across sectors including infrastructure, digital technologies, information and communication technology (ICT), artificial intelligence, pharmaceuticals, energy, construction and film.

The two countries also discussed measures to improve the business environment and facilitate trade through customs cooperation, market access initiatives for agricultural products, and trade settlement mechanisms in national currencies.

As part of efforts to strengthen the trade framework, India and the Philippines reviewed progress on the ASEAN–India Trade in Goods Agreement (AITIGA) review process and discussed the possibility of pursuing a bilateral Preferential Trade Agreement (PTA) after the review is concluded.

The meeting reaffirmed the commitment of both countries to deepen economic engagement and expand cooperation in trade, services and investment. Officials said enhanced collaboration in key sectors could support long-term economic development objectives in both countries.

On the sidelines of the meeting, Indian businesses operating in the Philippines participated in a separate interaction on June 4 to discuss investment opportunities, market access issues and ways to further strengthen commercial ties between the two nations.

The next meeting of the India-Philippines Joint Working Group on Trade and Investment will be held in New Delhi.

(KNN Bureau)