Philippines to enhance trade with Pakistan

Working group formed to look at possibilities of business in more products to enhance trade.

ISLAMABAD: Philippines and Pakistan have had a long history of cordial relations and bilateral trade between the two countries can be enhanced through diversification of the product range.

Assistant Secretary Office of Asian and Pacific Affairs Cristina G Ortega said that trade must be enhanced to further strengthen economic relations. She said that since 2004 the policy dialogue on trade was at halt, which has now been re-activated to give a boost to the trade activities.

A Working Group has been formed at government level to look at the possibilities of business in more products to enhance trade, which at present was far below the existing opportunities.

She was of the view that with more interaction between the private sectors, further avenues of cooperation can be found. In Philippines, the concept of Halal Food was growing and Pakistan must enhance its exports in it, said Ortega, while offering cooperation of Philippines in the business of call centers.

Islamabad Chamber of Commerce & Industry President Mahfooz Elahi said that trade between Pakistan and Philippines was around $100 million, which did not reflect the true potential of the two countries. He said that major items of exports from Pakistan include rice, pharmaceutical products, cotton products, glass and glassware, whereas major imports from Philippines comprised of auto parts, machinery and its parts, paper and paperboards.

He said that even though balance of trade is in favour of Pakistan, two-way trade must be increased by removing trade barriers. Elahi added that the Working Group should identify more areas for creating business ties, such as vegetables, training of manpower, livestock and agriculture.

Published in The Express Tribune, February 2^nd, 2011.