Manila: Pakistan and Philippines have reached an agreement to enhance cooperation across multiple sectors, as confirmed during the second meeting of the Pakistan-Philippines Joint Economic Commission (JEC) in Manila. The discussions aimed to bolster bilateral trade and investment relations, identifying significant untapped potential for expansion between the two nations.
According to Radio Pakistan, both countries highlighted opportunities in agricultural exports and halal-certified products, proposing business exchanges, trade fairs, and the creation of a dedicated business forum. The importance of private sector engagement was emphasized, with support expressed for reactivating the Pakistan-Philippines Joint Business Council. Furthermore, Pakistan suggested increased investment cooperation, including a Memorandum of Understanding between the respective Boards of Investment and the establishment of a Joint Working Group on Investment.
The notion of exploring a Preferential Trade Agreement (PTA) was welcomed, with both sides agreeing that feasibility studies would guide future discussions. In the agricultural domain, cooperation in seed development, plant variety protection, quality assurance, and community-based irrigation initiatives was underscored. For halal development, emphasis was placed on compliance training, certification exchanges, and enhancing supply chain capabilities.
In the healthcare and pharmaceutical sectors, a structured collaboration through a dedicated working group was proposed, focusing on regulatory cooperation and the facilitation of pharmaceutical and medical device trade. Additionally, both nations expressed interest in expanding partnerships in higher education and Technical and Vocational Education and Training (TVET) through academic exchanges and skills development initiatives.
The discussions also covered the energy and minerals sectors, exploring upstream exploration, mining technology exchange, and investment opportunities. Cooperation in tourism promotion and capacity building was encouraged, with a focus on ensuring efficient and predictable visa procedures, particularly for business travel, to facilitate trade and investment flows.