ISLAMABAD: The Inaugural Session of Pakistan–Philippines Joint Economic Commission was held in Islamabad on February 27-28. The session was co-chaired by Secretary Economic Affairs Division Arif Ahmed Khan, and Deputy Minister Industry Development and Trade Policy Group, (IDTPG) Department of Trade and Industry Philippines, Dr Ceferino S Rodolfo.
Detailed meetings were held between experts of the two sides on a number of issues, especially focusing on trade, investment, energy, agriculture, tourism, health, industries and other matters of mutual interest.
During his stay in Pakistan, Dr Ceferino S Rodolfo called on the Minister for Commerce & Textile and Federal Secretaries for ministries of National Health Services, Regulation and Coordination, and Foreign Affairs of Pakistan.
Based on major decisions, protocol of the session was signed by both co-chairs this Wednesday,
Both sides presented prospective export products for each other’s markets, and agreed to hold and actively participate in trade fairs, to re-activate the Pakistan-Philippines Joint Business Forum/Council, to collaborate in the area of post-harvest management and processing of rice and banana, to invest in construction of Highways in Pakistan on Build Operate and Transfer (BOT) basis, and to review the proposals regarding revision of the convention on the Avoidance of Double Taxation between Pakistan and Philippines as well as explore the possibility of cooperation in matters related to Customs.
In addition, Pakistan offered Philippines investment opportunities in the Power sector of Pakistan in renewable energy and small hydropower projects and training in the areas of hydrocarbon exploration, production, processing, and survey etc.
The meeting was held in a spirit of friendship, cooperation, and desire to make rapid advances in the above-mentioned sectors/areas.
