Outlook | 24 August 2020
India-Philippines talks next month can pave the way for FTA: Official
Mumbai, Aug 24 (PTI) India and the Philippines are set to hold talks on economic aspects in September which can pave the way for a bilateral Free Trade Agreement (FTA), a senior official from the Southeast Asian country has said.
Many sectors will feature in the meeting of the joint working group on trade and investment established by both the countries, said Eugenio C Elevado Jr, commercial counselor for the Philippine Trade and Investment Center in New Delhi.
He was speaking at a webinar on exploring business opportunities between the two countries, organised by World Trade Center Metro Manila and World Trade Center Mumbai.
The two countries can partner to expand their share in the global healthcare business process management sector pegged at USD 5.8 billion, Elevado said, as per a statement issued by the organisers of the webinar.
Stating that the sector will be among the ones to be discussed at the upcoming parleys in September, he said "the meeting can be a significant step towards signing of an FTA between the two nations."
He further said Indian companies can invest in sectors such as metals, automobile, agriculture and infrastructure in the Philippines.
Amid the COVID-19 pandemic, Indian companies can partner with companies in the Philippines by bringing in capital and technology in the healthcare and tele-medicine sectors, he said.
He listed out pharmaceuticals as a sector where both the countries have competitive advantage.