Philippine Trade and Investment Center in New Delhi (PTIC – New Delhi) Commercial Counsellor John Paul B. Iñigo (right) poses with (from left, first row) Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman, Philippine Chamber of Commerce and Industry (PCCI) Chairman Miguel B. Varela, Pakistan Ambassador to the Philippines Safdar Hayat, Philippine Ambassador to Pakistan Domingo Lucenario, Jr., Department of Foreign Affairs (DFA) International Economic Relations (IER) Undersecretary Laura del Rosario, and (second row) FPCCI Vice President Mian Mahmood Ahmad during the signing of the memorandum of understanding (MOU) for setting-up of joint business council between PCCI and FPCCI on August 28, 2014 at the Commerce and Industry Plaza in Fort Bonifacio, Taguig City. Varela signed the MOU for PCCI, and Usman for FPCCI. Commercial Counsellor Iñigo coordinated the visit of a 6-member business delegation led by Usman to the Philippines. He said that the signing of this MOU to set up a joint business council would significantly improve the trade relations between the Philippines and Pakistan through enhanced and continuous communication between the two industry groups. Last year, total trade between the two countries only stood at US$90.34 million. Pakistan is ranked as the 49th trading partner of the Philippines.
The Department of Trade and Industry (DTI) recently received a 6-member Pakistani business delegation that intends to explore business opportunities in the Philippines and strengthen economic ties between the Philippines and Pakistan.
“The Philippines and Pakistan are similar. We have almost same population size. We are looking at strong economic growth, import and export and industrial opportunities. One of our major focus is to get strong manufacturing growth,” DTI Undersecretary Ponciano C. Manalo, Jr. said during the delegation’s courtesy call on him.
The Pakistani delegation is led by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman. The delegation is a combination of possible investors, buyers and sellers from various sectors such as manufacturing, renewable energy, petrochemicals, financial services, textiles, ceramics, garments, food, and shipping.Continue reading