The fourteenth meeting of the India-Philippines Joint Working Group on Trade and Investment was convened in Manila, Philippines, on Friday. The discussions highlighted the strong upward trajectory of bilateral trade, which reached USD 3.9 billion in 2025-26, reflecting robust growth and expanding economic engagement between the two nations.

Both sides acknowledged this progress and examined trends in trade and investment, identifying priority products and services while also considering promotional activities and cooperation across multiple fields.

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

It was agreed that deeper cooperation in these domains could deliver sustained long-term benefits, enabling both countries to pursue developmental goals more effectively while reinforcing a framework of mutual support. This approach reflects the growing emphasis on sectoral diversification in bilateral economic relations.

Improving the business environment to facilitate trade was another key focus of the discussions. Customs cooperation and facilitation were addressed, alongside agricultural cooperation and market access for specific products. The possibility of trade settlement in national currencies was also considered, reflecting a broader regional trend towards reducing dependence on third-country currencies in bilateral trade.

The meeting was co-chaired by Amit Verma, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry of India, and Allan B. Gepty, Undersecretary, Department of Trade and Industry, International Trade Group of the Philippines. Representatives from concerned Ministries, Departments, and Organisations also participated through video conferencing, ensuring a wide-ranging and inclusive dialogue.

Another important aspect of the meeting was the discussion on the early conclusion of the ASEAN-India Trade in Goods Agreement (AITIGA) Review. Both sides emphasised the importance of this process and agreed that a bilateral India-Philippines Preferential Trade Agreement could follow thereafter.

This reflects the strategic intent to deepen economic integration within the ASEAN framework while simultaneously strengthening bilateral arrangements.

On the sidelines of the 14th JWGTI, an interaction with Indian businesses operating in the Philippines was held on 4 June 2026. This provided a platform for discussions on trade, investment, market opportunities, and ways to further deepen India-Philippines commercial ties.

Such engagements underline the importance of private sector participation in shaping the trajectory of bilateral economic relations.

The meeting underscored the strategic importance of strengthening bilateral economic ties and reaffirmed both countries’ commitment to building a more dynamic and mutually beneficial partnership. 

It also served as a platform for India and the Philippines to exchange perspectives on global, regional, and bilateral developments, with a strong emphasis on enhancing trade in goods and services and investment ties. The next meeting of the Joint Working Group will be held in New Delhi, India, continuing the momentum of this dialogue.

ANI