Bilateral trade between India and the Philippines surged to $3.9 billion in 2025-26, showcasing a significant upward trend. The 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) took place in Manila, co-chaired by Amit Verma and Allan B. Gepty. Discussions at the meeting focused on various aspects including trends in trade, identification of priority products, and exploring collaboration in sectors like film, energy, and pharmaceuticals.
The meeting emphasized the potential benefits of deeper cooperation in identified sectors, aiming to support the developmental goals of both countries. Both sides recognized the robust growth in bilateral trade and highlighted the importance of enhancing the business environment to facilitate trade. Discussions also revolved around customs cooperation, agricultural cooperation, and the possibility of a bilateral India-Philippines Preferential Trade Agreement (PTA).
Efforts were made to conclude the ASEAN-India Trade in Goods Agreement (AITIGA) Review promptly, with plans for a subsequent bilateral agreement. An interaction with Indian businesses in the Philippines provided a platform for discussions on trade, investment, and market opportunities. The meeting reiterated the strategic significance of strengthening economic ties between India and the Philippines, aiming for a dynamic and mutually beneficial partnership.
The next meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI) is scheduled to be held in New Delhi.
