New Delhi, Aug 5 (UNI) India and the Philippines have agreed to complete review of the India-ASEAN
Free Trade Agreement (FTA) on a priority and also work towards a bilateral Preferential Trade
Agreement.
Prime Minister Narendra Modi, in his opening remarks at the joint press conference along with visiting Philippines President Ferdinand Marcos Jr. said bilateral India-Philippines trade is growing continuously and has crossed the 3 billion dollar mark.
‘’To further strengthen it, it is our priority to complete the review of the India-ASEAN Free Trade Agreement as soon as possible. Also, we have decided to work towards a bilateral Preferential Trade Agreement,’’ he said.
He said companies of both countries are actively working in every sector – Information and Digital Technology, health, automobiles, infrastructure, minerals. In the field of science and technology, from virology to AI and additive manufacturing, joint research is going on.
Next year, the Philippines will chair ASEAN. ”We will provide full support for its success,” Prime Minister Modi said.
