ISLAMABAD: Pakistan and Philippines Wednesday agreed to conduct feasibility compare on the doable for Preferential Trade Settlement (PTA), deciding to achieve a Technical Working Team contained in the Joint Financial Commission (JEC) for this motive.
The agreement used to be reached at the Joint Financial Commission sessions right here, which used to be Co-chaired by Secretary, Financial Affairs Division, Arif Ahmed Khan and Deputy Minister, Industry Pattern and Trade Policy Team, (IDTPG) Department of Trade and Industry, Philippines, Dr. Ceferino S. Rodolfo.
The Protocol of the Session used to be signed by both Co-chairs right here , per fundamental actions and choices by both the edges.
The Inaugural Session of Pakistan–Philippines Joint Financial Commission (JEC) used to be held in Islamabad on February 27-28, 2018.
Each and every the countries agreed to re-instructed the Pakistan-Philippines Joint Trade Forum/Council with the participation of the Chamber of Commerce and Industry of Philippines and Federation of Pakistan Chamber of Commerce and Industry of Pakistan (FPCCI).
Pakistan offered Philippines investment opportunities in Vitality sector, renewable energy and shrimp hydro energy projects and training in the areas of hydro carbon savor exploration, production, processing and peep and a lot others.
In JEC meeting, both the edges offered doable export merchandise for every others’ markets. In this regard Pakistan offered Rice, Fruit (in particular Pakistani citrus and Mangoes), Leather-primarily primarily based fully Clothes, Pharmaceutical Goods, Sports activities Goods and Surgical Items.
Whereas Philippines facet offered Electronics and semi conductors; Automobile Substances and Substances; Processed Meals and Halal Merchandise.
Each and every sides agreed to withhold and actively have half in replace gala’s, single country and product primarily primarily based fully exhibitions in every others country on a widespread basis.
The two sides agreed to collaborate in the house of publish-harvest administration and processing of rice and banana. Pakistan invited Philippines to spend money on construction of Highways in Pakistan on Originate, Characteristic and Transfer (BOT) basis.
Philippines shared investment opportunities for Pakistan pharmaceutical and clinical equipment manufacturing in the Philippines.
The Events mutually agreed on replace of visits between the officers of Central Banks of the 2 countries.
Pakistan and Philippines deliberated upon and agreed to study the proposals referring to revision of the convention on the Avoidance of Double Taxation between both sides besides explore the doable for cooperation in matters related to Customs.
The meeting used to be held in a spirit of friendship, cooperation and desire to function immediate advances in the above mentioned sectors/areas.
Detailed conferences had been held between consultants of the 2 sides on a ramification of issues, in particular specializing in Trade, Funding, Vitality, Agriculture, Tourism, Properly being, Industries and other matters of mutual ardour.
For the interval of his set in Pakistan, Dr. Ceferino S. Rodolfo referred to as on the Minister for Commerce and Textile and Federal Secretaries for Ministries of Nationwide Properly being Services and products, Law and Coordination and Foreign Affairs of Pakistan.