Signing of a Memorandum of Understanding between Pakistan and the Philippines PHOTO: MINISTRY OF ECONOMIC AFFAIRS
Pakistan and the Philippines held the second session of their Joint Economic Commission in Manila on Friday, according to a spokesman for the Ministry of Economy.
The meeting was chaired by Pakistan’s Minister of Economy Muhammad Humair Karim and Philippines Undersecretary for International Trade Allan B Gepty.
Both sides discussed measures to strengthen trade and investment ties, including organizing trade exhibitions and a dedicated business forum, the spokesman said.
PHOTO: MINISTRY OF ECONOMICS
The meeting also reviewed the updating of the bilateral double taxation agreement to adapt it to modern standards. Officials emphasized the importance of private sector participation and supported the revival of the Pakistan-Philippines Joint Business Council, the spokesman added.
Pakistan proposed signing a memorandum of understanding between the investment boards of the two countries and discussed establishing a joint working group on investment, the spokesman said.
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Export opportunities in agricultural commodities and halal-certified products were highlighted, along with potential cooperation on seed development and irrigation initiatives, the spokesperson added.
The session also emphasized the need for a predictable and efficient visa regime to facilitate business travel. Discussions included cooperation in the energy and minerals sectors, particularly in upstream exploration and exchange of mining technology, the spokesman said.
The meeting was attended by Pakistan’s ambassador to the Philippines Dr. Asma Rabbani, the Philippine Ambassador to Pakistan Dr. Emmanuel Fernandez and senior officials from both countries, the spokesman said.
