India and Philippines Discuss Trade Growth as Bilateral Trade Reaches $3.9 Billion
India, Philippines hold trade talks as bilateral trade hits $3.9 bn
Asianet Newsable
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The India-Philippines Joint Working Group on Trade and Investment convened in Manila, focusing on the growth of bilateral trade, which reached $3.9 billion. Key discussions included collaboration in various sectors and improving the business environment to facilitate trade.
- 01Bilateral trade between India and the Philippines grew to $3.9 billion in 2025-26.
- 02The meeting explored collaboration in sectors like film, energy, construction, ICT, and pharmaceuticals.
- 03Key discussions included improving customs cooperation and trade settlement in national currencies.
- 04The ASEAN-India Trade in Goods Agreement (AITIGA) Review is set for early conclusion.
- 05The next JWGTI meeting will be held in New Delhi, India.
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The fourteenth meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) took place in Manila, where both countries acknowledged a significant increase in bilateral trade, reaching $3.9 billion in 2025-26. The discussions highlighted the need for collaboration in diverse sectors, including film, energy, construction, ICT, and pharmaceuticals, which could yield long-term benefits for both nations. Improving the business environment was also a key focus, with talks on customs cooperation and trade settlement in national currencies. Additionally, the meeting addressed the early conclusion of the ASEAN-India Trade in Goods Agreement (AITIGA) Review and the potential for a bilateral Preferential Trade Agreement (PTA). The meeting underscored the strategic importance of enhancing economic ties and reaffirmed the commitment to a mutually beneficial partnership. An interaction with Indian businesses operating in the Philippines was held to discuss further trade and investment opportunities. The next JWGTI meeting is scheduled for New Delhi.
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The discussions aim to enhance trade and investment opportunities, potentially benefiting businesses and consumers in both countries.
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