Last Updated on June 6, 2026 12:19 am by BIZNAMA NEWS
AMN
India and the Philippines are exploring new avenues to expand economic cooperation as bilateral trade between the two countries reached $3.9 billion in the financial year 2025–26, reflecting steady growth and strengthening commercial engagement.
The momentum in trade ties was reviewed during the 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI), held in Manila. The meeting was co-chaired by Amit Verma, Joint Secretary in India’s Department of Commerce, and Allan B. Gepty, Undersecretary at the Philippines’ Department of Trade and Industry.
According to the Ministry of Commerce, discussions focused on recent trends in bilateral trade and investment, identification of priority sectors, and strategies to enhance cooperation across a wide range of industries. Both sides also examined ways to boost promotional activities and improve institutional coordination.
Key sectors identified for potential collaboration included film and entertainment, energy, construction and infrastructure, information and communication technology (ICT), IT-enabled services, artificial intelligence, and pharmaceuticals. Officials from both countries emphasized that strengthening partnerships in these areas could unlock long-term growth opportunities and support broader economic development objectives.
The two sides acknowledged the steady expansion of bilateral trade and underscored the importance of creating a more enabling business environment to sustain this momentum. In this context, discussions covered measures to improve customs procedures, facilitate trade flows, enhance agricultural cooperation, and expand market access for select products.
Another important area of focus was the possibility of conducting trade settlements in national currencies, which could help reduce transaction costs and mitigate currency-related risks.
The meeting also reviewed progress on the proposed revision of the ASEAN–India Trade in Goods Agreement (AITIGA), with both sides expressing support for its early conclusion. Following this, the countries are expected to explore the feasibility of a bilateral Preferential Trade Agreement (PTA) to further deepen trade integration.
In addition to official-level talks, the delegation engaged with Indian businesses operating in the Philippines. The interaction provided a platform to discuss investment opportunities, operational challenges, and measures to enhance the ease of doing business in the region.
The discussions highlighted the growing strategic importance of India-Philippines economic relations, with both sides reaffirming their commitment to building a more dynamic, resilient, and mutually beneficial partnership.
The next meeting of the Joint Working Group on Trade and Investment is scheduled to be held in New Delhi, where further steps to advance bilateral cooperation are expected to be taken.