New Delhi, June 5 (IANS) Bilateral trade between India and the Philippines reached $3.9 billion in 2025–26, demonstrating a strong upward trajectory, the government said on Friday.

The 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) was convened in Manila, which was co-chaired by Amit Verma, Joint Secretary, Department of Commerce, and Allan B. Gepty, Undersecretary, Department of Trade and Industry, International Trade Group.

According to the Commerce Ministry, discussions covered trends in bilateral trade and investment, identification of priority products and services, and promotional activities and cooperation across various fields.

The meeting also explored potential areas of collaboration in diverse sectors such as film, energy, construction and infrastructure, ICT/IT-BPM/AI, and pharmaceuticals.

Both sides agreed that deeper cooperation in these areas could deliver sustained long-term benefits, enabling each country to pursue its developmental goals more effectively while reinforcing a framework of mutual support.

Both sides also acknowledged the robust growth of bilateral trade between India and the Philippines.

“Improving the business environment to facilitate trade was another key focus. Discussions covered customs cooperation and facilitation, agricultural cooperation and market access for specific products, and trade settlement in national currencies,” according to an official statement.

The meeting also discussed the early conclusion of the ASEAN–India Trade in Goods Agreement (AITIGA) Review, and the engagement for a bilateral India–Philippines Preferential Trade Agreement (PTA) thereafter.

An interaction with Indian businesses operating in the Philippines was also held, providing a platform for discussions on trade, investment, market opportunities, and ways to further deepen India–Philippines commercial ties.

Overall, the meeting underscored the strategic importance of strengthening bilateral economic ties, reaffirming both countries’ commitment to building a more dynamic and mutually beneficial partnership, said the ministry.

The next meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) will be held in New Delhi.

–IANS

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