India and the Philippines reaffirmed their commitment to strengthening bilateral economic relations during the 14th Meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI), held in Manila on June 5, 2026.
The meeting was co-chaired by Amit Verma and Allan B. Gepty, with participation from representatives of various ministries, departments and organisations from both countries.
Both sides welcomed the strong growth in bilateral trade, which reached USD 3.9 billion in 2025–26, reflecting the expanding economic engagement between the two nations. Discussions focused on trade and investment trends, identification of priority products and services, and opportunities for enhanced cooperation across sectors including film, energy, construction and infrastructure, ICT, IT-BPM, artificial intelligence, and pharmaceuticals.
The two countries agreed that closer collaboration in these sectors would generate long-term economic benefits, support national development objectives, and strengthen their strategic partnership.
Trade facilitation measures also featured prominently in the discussions, with both sides reviewing customs cooperation, agricultural market access, and the possibility of conducting trade settlements in national currencies to improve ease of doing business.
The meeting further emphasized the importance of an early conclusion of the review of the ASEAN–India Trade in Goods Agreement, while also exploring the prospect of negotiating a bilateral India–Philippines Preferential Trade Agreement (PTA) in the future.
On the sidelines of the JWGTI meeting, Indian businesses operating in the Philippines participated in an interaction on June 4, providing insights on investment opportunities, market access, and avenues for expanding commercial engagement between the two countries.
The meeting concluded with both sides reaffirming their commitment to building a more dynamic and mutually beneficial economic partnership. The next JWGTI meeting will be hosted in New Delhi, providing another platform to advance bilateral trade, services, and investment cooperation.