Pakistan and the Philippines have agreed to enhance cooperation in multiple sectors during the second meeting of their Joint Economic Commission (JEC) held in Manila, reaffirmed their commitment to strengthening economic engagement through practical and result-oriented initiatives.
Pakistan and the Philippines have agreed to enhance cooperation in multiple sectors during the second meeting of their Joint Economic Commission (JEC) held in Manila, reaffirmed their commitment to strengthening economic engagement through practical and result-oriented initiatives.
The meeting was co-chaired by Secretary Economic Affairs Division Muhammad Humair Karim Kidwai and Undersecretary for international Trade at the Philippine Department of Trade and Industry Atty. Allan B. Gepty, according to a press release issued by the Ministry of Economic Affairs today, as reported by APP.
The session was attended by Pakistan’s Ambassador to the Philippines Dr. Asima Rabbani and Philippine Ambassador to Pakistan Dr. Emmanuel R. Fernandez, along with senior officials from both sides.
Both delegations exchanged views on the global economic environment and shared updates on their respective economic outlooks and trade policy priorities.
The two sides reviewed bilateral trade and investment relations and acknowledged significant untapped potential for growth.
Pakistan highlighted export opportunities in agricultural goods and halal-certified products, and proposed business exchanges, trade fairs, and the establishment of a dedicated business forum.
Both side underscored the importance of private sector engagement and supported the reactivation of the Pakistan- Philippines Joint Business Council.
Pakistan also proposed enhanced investment cooperation, including an MoU between the respective Boards of Investment and the establishment of a Joint Working Group on Investment.
Discussion were held on market access issues, with Pakistan emphasizing early resolution of its pending requests. Both sides agreed to continue engagement through established channels.
The possibility of exploring a preferential Trade Agreement (PTA) was welcomed, with both sides agreeing that feasibility studies would guide future discussions.
The existing JEC framework may be strengthened to incorporate expanded sectoral cooperation.
Sectoral discussions covered agriculture, irrigation and water management, halal development, health and pharmaceuticals, banking and taxation, higher education and TVET, energy and minerals, tourism, and visa facilitation.
In agriculture, both sides emphasized cooperation in seed development, plant variety protection, quality assurance, and community-based irrigation initiatives.
On halal development, the focus was on compliance training, certification exchanges, and strengthening supply chain capabilities.
In health and pharmaceuticals, the two sides discussed structured collaboration through a dedicated working group, including regulatory cooperation and facilitation of pharmaceutical and medical device trade.
In banking and taxation, discussions highlighted collaboration in digital payments, remittance corridors, financial innovation, supervisory cooperation, and consideration of updating the Double Taxation Agreement in line with modern standards.
Both sides also expressed interest in expanding partnerships in higher education and TVET through academic exchanges and skills development initiatives, as well as in energy and minerals through upstream exploration, mining technology exchange, and investment opporunities.
Cooperation in tourism promotion and capacity building was encouraged, while the importance of efficient and predictable visa procedures, particularly for business travel, was underscored to facilitate trade and investment flows.