Pakistan, Philippines to collaborate for post-harvest management

ISLAMABAD: Pakistan and Philippines on Wednesday agreed to collaborate in the area of post-harvest management and processing of rice and banana and explore opportunities of bilateral preferential trade agreement.

The decisions were taken during a Pakistan–Philippines joint economic commission (JEC), a government statement said.

Arif Ahmed Khan, secretary of Economic Affairs Division and Ceferino Rodolfo, deputy minister of Industry Development and Trade Policy Group Philippines co-headed the two-day session.

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.

Both the sides presented prospective export products for each other’s markets. Pakistan offered rice, fruit (citrus and mangoes), leather garments, pharmaceutical goods, sports goods and surgical items as potential exportable items. Philippines presented electronics and semi conductors, automotive parts and components, processed food and Halal products as potential items.

Both the sides agreed to hold and actively participate in trade fairs, single country and product based exhibitions in each other’s country on a regular basis.

Both the sides agreed to conduct feasibility studies on the possibility of preferential trade agreement and to the formation of a technical working group within the JEC for the purpose.

Both the sides agreed to reactivate the Pakistan-Philippines joint business forum/council with the participation of the chamber of commerce and industry of Philippines and Federation of Pakistan Chambers of Commerce and Industry.

Pakistan offered Philippines investment opportunities in renewable energy and small hydropower projects and training in the areas of hydrocarbon like exploration, production, processing and survey.

Pakistan invited Philippines to invest in construction of highways on build, operate and transfer basis. Philippines shared investment opportunities in pharmaceutical and medical equipment manufacturing.

They agreed for exchange of visits between the officials of central banks of the two countries.

Both the sides agreed 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.

The meeting was held to make rapid advances in the above mentioned sectors/areas.

The bilateral trade amounted to minuscule around $150 million during the last fiscal year of 2016/17 with imports from Philippines standing at $15 million while exports to the south east Asian economy estimated at $135 million.