At present, the Philippines sources cheap imported drugs from India under the Presyong Tama program started by former Trade and Industry Secretary Manuel A. Roxas II.
Iranian Ambassador Jalal Kalamantari met last week with current Trade and Industry Secretary Cesar V. Purisima to discuss ways to improve and increase trade relations between the Philippines and Iran.
Aside from supplying cheap medicine to the Philippines, Iran is also interested in Philippine bananas. Purisima, for his part, wants to push for more Philippine food exports to Iran as well as electronics and even possibly automobiles.
Purisima acknowledged that Iran is an important trading partner of the Philippines in the Middle East.
Iran, Purisima pointed out, is a major supplier of crude petroleum oil which accounts for 98 percent of the country’s total imports from Iran. "We must explore ways to get more of our products into Iran," Purisima said.
Philippines’ exports to Iran amounted to $13.107 million last year comprised primarily of fresh and processed food products.
The Philippines, on the other hand, imported $592.819 million worth of petroleum and chemical products from Iran last year.