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 Ministry of Economic Affairs spokesperson.
The meeting was co-chaired by Pakistani Economic Affairs Secretary Muhammad Humair Karim and Philippine Undersecretary for International Trade Allan B. Gepty.
Both sides discussed measures to strengthen trade and investment ties, including organizing trade exhibitions and an exclusive business forum, the spokesperson said.
PHOTO: MINISTRY OF ECONOMIC AFFAIRS
The meeting also reviewed updating the bilateral Double Taxation Agreement to align it with modern standards. The officials stressed 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 boards of the two countries and discussed establishing a joint working group on investment, the spokesperson said.
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Export opportunities for agricultural products and halal-certified products were highlighted, along with possible cooperation in seed development and irrigation initiatives, the spokesperson added.
The session also highlighted the need for a predictable and efficient visa regime to facilitate business travel. Discussions included collaboration in the energy and minerals sectors, particularly in upstream exploration and the sharing of mining technology, the spokesperson said.
The meeting was attended by Pakistani Ambassador to the Philippines Dr Asma Rabbani, Philippine Ambassador to Pakistan Dr Emmanuel Fernandez and senior officials of both countries, the spokesperson said.
