Pakistan, Philippines move toward PTA

Pakistan and the Philippines agreed to explore the possibility of a Preferential Trade Agreement (PTA) and to strengthen their economic engagement during the 2nd Meeting of the Pakistan-Philippines Joint Economic Commission (JEC) held in Manila.

According to an official statement issued on Friday, the meeting was co-chaired by Secretary Economic Affairs Division Muhammad Humair Karim Kidwai and Undersecretary for International Trade Atty Allan B Gepty of the Philippine Department of Trade and Industry. Pakistan's Ambassador to the Philippines Dr Asima Rabbani and Philippine Ambassador to Pakistan Dr Emmanuel R Fernandez, along with senior officials from both sides, also attended.

The two sides exchanged views on the global economic environment and shared updates on their respective economic outlooks and trade policy priorities. They reviewed bilateral trade and investment ties and acknowledged considerable untapped potential for expansion.

Pakistan highlighted export prospects in agricultural goods and halal-certified products and proposed business exchanges, trade fairs and a dedicated business forum. Both sides underscored the importance of private sector engagement and supported reactivating the Pakistan-Philippines Joint Business Council. Pakistan also proposed enhanced investment cooperation, including a memorandum of understanding between the respective Boards of Investment and the establishment of a Joint Working Group on Investment.

Discussions on market access issues included Pakistan's emphasis on early resolution of its pending requests. Both sides agreed to continue engagement through established channels. They welcomed exploring a Preferential Trade Agreement (PTA), noting that feasibility studies would guide future discussions. The existing JEC framework may also be strengthened to incorporate expanded sectoral cooperation.

Sectoral discussions covered agriculture, irrigation and water management, halal development, health and pharmaceuticals, banking and taxation, higher education and technical and vocational education and training (TVET), energy and minerals, tourism and visa facilitation.

In agriculture, both sides emphasised cooperation in seed development, plant variety protection, quality assurance and community-based irrigation initiatives. On halal development, discussions focused on compliance training, certification exchanges and strengthening supply chains. In health and pharmaceuticals, structured collaboration through a dedicated working group, including regulatory cooperation and facilitation of pharmaceutical and medical device trade, was discussed.

Talks on banking and taxation covered digital payments, remittance corridors, financial innovation, supervisory cooperation and possible updating of the Double Taxation Agreement. The meeting concluded with both sides reaffirming their commitment to deepen economic ties and translate agreed initiatives into tangible outcomes.