India and the Philippines have reaffirmed their commitment to deepening economic cooperation, with bilateral trade reaching USD 3.9 billion in 2025-26, as officials from both countries met in Manila for the 14th meeting of the India-Philippines Joint Working Group on Trade and Investment (JWGTI).

The meeting, held on Friday in the Philippine capital, reviewed the growing trade and investment relationship between the two countries and explored new opportunities for collaboration across a range of sectors. Officials from both sides acknowledged the strong upward trajectory in bilateral trade and discussed measures to sustain momentum through enhanced market access, investment promotion and closer economic engagement.

The JWGTI serves as a key institutional mechanism for advancing commercial ties between India and the Philippines, providing a platform to discuss trade policies, investment opportunities and broader economic developments at the bilateral, regional and global levels.

Focus On Emerging Growth Sectors

During the discussions, both sides examined trends in trade and investment and identified priority products and services that could help expand economic cooperation. Particular attention was given to sectors with significant growth potential, including film production, energy, construction and infrastructure, information and communications technology (ICT), IT-enabled services, artificial intelligence and pharmaceuticals.

Officials agreed that deeper engagement in these sectors could generate long-term benefits for both economies, helping them achieve their respective development objectives while strengthening mutual support and economic resilience.

The meeting also highlighted the importance of promoting business partnerships and facilitating greater private-sector participation. Representatives from relevant ministries, departments and organisations joined the discussions through video conferencing, underscoring the broad institutional support for expanding bilateral cooperation.

Trade Facilitation And Market Access Take Centre Stage

Improving the ease of doing business and creating a more favourable environment for trade formed a major part of the discussions. Both countries exchanged views on customs cooperation and trade facilitation measures aimed at reducing barriers and streamlining cross-border commerce.

Agricultural cooperation and market access for specific products were also discussed, alongside the possibility of promoting trade settlement in national currencies. Such measures are expected to reduce transaction costs and improve efficiency in bilateral trade exchanges.

The meeting was co-chaired by Amit Verma, Joint Secretary in India’s Department of Commerce under the Ministry of Commerce and Industry, and Allan B. Gepty, Undersecretary of the International Trade Group at the Philippines’ Department of Trade and Industry.

Pathway Towards Broader Economic Integration

A significant aspect of the discussions centred on regional trade arrangements. Both sides reviewed progress on the ongoing review of the ASEAN-India Trade in Goods Agreement (AITIGA) and expressed support for its early conclusion.

Officials also discussed future engagement towards a bilateral India-Philippines Preferential Trade Agreement (PTA) once the AITIGA review process is completed. Such an agreement could further boost trade flows by offering improved market access and reducing tariff barriers between the two countries.

On the sidelines of the JWGTI, an interaction with Indian businesses operating in the Philippines was held on June 4. The session provided an opportunity to discuss investment prospects, market opportunities and ways to strengthen commercial ties between the two nations.

The meeting concluded with both countries reaffirming the strategic importance of stronger economic relations and their commitment to building a dynamic, mutually beneficial partnership. The next JWGTI meeting will be hosted in New Delhi, continuing efforts to expand trade in goods and services and deepen investment cooperation between India and the Philippines.

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