New Delhi, June 6: As part of endeavour to deepen investment and trade ties, India and Philippines have identified several sectors, including energy, construction, pharmaceuticals and Information and Communication Technology.
Officials of the two countries held talks under the framework of 14th Meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) to review the status of the commercial relations and the way forward.
While noting that bilateral trade has reached USD 3.9 billion as of 2025-26, the two sides reviewed trends in trade and investment and identified priority products, services and promotional activities, according to an official statement.
The meeting discussed expanding cooperation in sectors including film, energy, construction and infrastructure, information and communications technology, IT-enabled services, artificial intelligence and pharmaceuticals, areas both sides said could support long-term growth and development goals, it said.
Improving the business environment was another focus, with talks covering customs cooperation, agricultural market access, and measures to ease trade settlement using national currencies.
ASEAN-India Free Trade Agreement
The two sides also exchanged views on the early conclusion of the review of the ASEAN-India Trade in Goods Agreement and subsequent engagement on a bilateral India-Philippines preferential trade agreement, the statement said.
On the sidelines of the meeting, Indian companies operating in the Philippines met officials to discuss market opportunities and ways to strengthen commercial engagement.
The next JWGTI meeting will be held in New Delhi, with both governments reaffirming their commitment to building a more dynamic and mutually beneficial economic partnership.
