India, Philippines hold trade talks as bilateral trade hits $3.9 bn

The 14th India-Philippines trade meeting in Manila noted bilateral trade hitting USD 3.9 billion. Discussions focused on enhancing cooperation in sectors like ICT, pharma, and energy, and improving the overall business environment.

The fourteenth meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) was convened on Friday, in Manila, Philippines, the release stated.

Bilateral Trade Growth and Key Discussions

Both sides acknowledged the robust growth of bilateral trade between India and the Philippines, which reached USD 3.9 billion in 2025-26, demonstrating a strong upward trajectory. Discussions covered trends in bilateral trade and investment, identification of priority products and services, and promotional activities and cooperation across various fields.

Exploring New Areas of Collaboration

The meeting also explored potential areas of collaboration in diverse sectors such as film, energy, construction and infrastructure, ICT/IT-BPM/AI, and pharmaceuticals. Both sides agreed that deeper cooperation in these areas could deliver sustained long-term benefits, enabling each country to pursue its developmental goals more effectively while reinforcing a framework of mutual support.

Improving Business Environment and Market Access

Improving the business environment to facilitate trade was another key focus. Discussions covered customs cooperation and facilitation, agricultural cooperation and market access for specific products, and trade settlement in national currencies.

The meeting was co-chaired by Amit Verma, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry of the Republic of India, and Allan B. Gepty, Undersecretary, Department of Trade and Industry, International Trade Group. Representatives of concerned Ministries, Departments, and Organisations also participated through video conferencing.

Future Agreements and Strategic Partnership

The meeting also discussed the early conclusion of the ASEAN-India Trade in Goods Agreement (AITIGA) Review, and the engagement for a bilateral India-Philippines Preferential Trade Agreement (PTA) thereafter.

Overall, the meeting underscored the strategic importance of strengthening bilateral economic ties, reaffirming both countries' commitment to building a more dynamic and mutually beneficial partnership.

Interaction with Indian Businesses

On the sidelines of the 14th JWGTI, an interaction with Indian businesses operating in the Philippines was held on 04 June 2026, providing a platform for discussions on trade, investment, market opportunities, and ways to further deepen India-Philippines commercial ties.

Next Steps and Outlook

The next meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) will be held in New Delhi, India.

The JWGTI meeting served as a platform for India and the Philippines to exchange perspectives on global, regional, and bilateral developments, with a strong emphasis on enhancing trade in goods and services and investment ties. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)