Phl, Pakistan discuss stronger economic ties

The Philippines and Pakistan met for the inaugural session of the Philippines-Pakistan Joint Economic Commission (JEC) to discuss stronger economic cooperation between the two countries.

Key officials from the Department of Trade and Industry (DTI) and Pakistan Ministry of Finance, Revenue and Economic Affairs recently met in Islamabad.

Undersecretary for Industry and Trade Policy Ceferino Rodolfo and Secretary of the Economic Affairs Division Arif Ahmed Khan co-chaired the meeting, which gathered both countries’ economic officials to discuss ways of enhancing bilateral economic cooperation especially in the areas of trade, investment, energy, agriculture, tourism, health, industries and other matters of mutual interest.

The two countries agreed to activate the Pakistan-Philippines Joint Business Forum and Council with the participation of the Chamber of Commerce and Industry of the Philippines and Federation of Pakistan Chamber of Commerce and Industry.

The two sides also agreed to conduct feasibility studies on the possibility of ‘Preferential Trade Agreement’ and for the formation of a technical working group with the JEC for this purpose.

At the sidelines of the JEC, Rodolfo discussed opportunities for Pakistan-Philippine economic relations at a gathering of Pakistani businessmen organized by the Pakistan-Philippines Business Forum.