Pakistan and Philippines have agreed to enhance cooperation across multiple sectors.
The understanding to this effect came at the second meeting of the Pakistan-Philippines Joint Economic Commission (JEC) in Manila.
The two sides reviewed bilateral trade and investment relations and acknowledged the considerable untapped potential for expansion.
Pakistan highlighted export prospects in agricultural goods and halal-certified products and proposed business exchanges, trade fairs, as well as a dedicated business forum.
Both sides underscored the importance of private sector engagement and supported the reactivation of the Pakistan-Philippines Joint Business Council. Pakistan proposed enhanced investment cooperation, including an MoU between the respective Boards of Investment and the establishment of a Joint Working Group on Investment.
The possibility of exploring a Preferential Trade Agreement (PTA) was welcomed, with both sides agreeing that feasibility studies would guide future discussions.
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.
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 opportunities.
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.
