Signing of a memorandum of understanding between Pakistan and the Philippines PHOTO: MINISTRY OF ECONOMIC AFFAIRS
Pakistan and the Philippines held the second session of their joint economic commission in Manila on Friday, according to a spokesperson for the Ministry of Economic Affairs.
The meeting was co-chaired by Pakistan Economic Affairs Secretary Muhammad Humair Karim and Philippine International Trade Undersecretary Allan B Gepty.
The two sides discussed measures to strengthen trade and investment ties, including organizing trade exhibitions and a dedicated business forum, the spokesperson said.
PHOTO: MINISTRY OF ECONOMIC AFFAIRS
The meeting also discussed updating the bilateral double taxation agreement to bring it in line with modern standards. The officials highlighted the importance of private sector participation and supported the revival of the Pakistan-Philippines Joint Business Council, the spokesperson added.
Pakistan proposed signing a memorandum of understanding between the investment councils of the two countries and discussed the establishment of a joint investment working group, the spokesperson said.
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Opportunities for exporting agricultural raw materials and halal certified products were highlighted, as well as potential cooperation in the development of seeds and irrigation initiatives, the spokesperson added.
The session also highlighted the need for a predictable and efficient visa regime to facilitate business travel. The discussions focused on collaboration in the energy and minerals sectors, particularly in upstream exploration and mining technology exchange, the spokesperson said.
The meeting was attended by Pakistan Ambassador to the Philippines Dr. Asma Rabbani, Philippine Ambassador to Pakistan Dr. Emmanuel Fernandez and senior officials of both countries, the spokesperson said.
