Pakistan trade mission visits Phl

MANILA, Philippines - A Pakistan trade mission led by Zakria Usman, president, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) arrived for a three-day visit to the Philippines last Aug. 28.

The mission met with the delegation of Philippines Chamber of Commerce and Industry (PCCI) led by Miguel B. Varela, chairman PCCI on Aug. 28 and with Trade undersecretary Poncialo C. Manalo Jr. on Aug. 29.

During its meeting with the PCCI an MOU on establishing a joint business council between Pakistan and Philippines was signed.

The delegation was also briefed about investment opportunities in the Philippines by the Board of Investments. In addition B2B meetings with the local business community were also arranged.

During the meetings the two sides highlighted the need for enhancing bilateral trade and investment between Pakistan and Philippines. It was agreed that the two sides would exchange business delegation on regular basis and ensure participation in exhibitions in the two countries.

Several areas for collaboration were identified for collaboration including energy, food processing, sports goods, surgical goods, pharmaceuticals, rice, etc. It was also agreed to hold the inaugural session of a Joint Economic Commission between the two countries in the near future.

The two sides also emphasized the need for initiating negotiations on FTA between Pakistan and the Philippines. The Philippine side said they were considering opening a trade office in Karachi soon.

Philippine Ambassador to Pakistan Domingo D. Lucenario Jr., and Philippine Commercial Counselor accredited to Pakistan John Paul B. Inigo were also present during the meetings. The visit provided an excellent opportunity for bringing about a better coordination between the business communities of the two countries.