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Philippines, India vow to further improve trade, investment relations

Xinhua, May 30, 2016 Adjust font size:

The Philippines and India have agreed to forge closer cooperation and strengthen their trade and investment relations, the Philippine Department of Trade and Industry (DTI) said Monday.

At the 12th Meeting of the Joint Working Group on Trade and Investments (JWGTI) held in New Delhi, India, Philippine Board of Investments (BOI) Governor Lucita P. Reyes discussed areas of cooperation including bilateral cooperation initiatives and issues involving trade, investments, and improved market access for both countries.

The meeting identified areas of cooperation in coconut production, rice, customs, science and technology, information communication technology (ICT), pharmaceuticals, micro, small, and medium enterprises (MSME) development, and higher education.

"Both countries also pledged to jointly develop a mechanism for sharing statistical data and to fast-track the development, signing, and implementation of pending Memoranda of Understanding between the Philippines and India," DTI said. Endit