Tugade highlights projects under BBB program
Ramon M. Lopez, Minister, Department of Trade and Industry, has called for negotiation on the Preferential Trade Agreement (PTA) between India and Philippines for enhanced market access and to make use of numerous mutually beneficial opportunities for the two countries to become economic partners in the Indo-Pacific region.
In September 2020, both countries have agreed to work on the PTA to reduce and eliminate tariffs on many products following the 13th Meeting of the India Philippines Joint Working Group on Trade and Investments (JWGTI). The focus would be on sectors such as pharmaceuticals, IT, and Financial Technology.
Transport Minister Arthur P. Tugade has also expressed Manila’s willingness for an early signing of Air Services Agreement between India and Philippines for enhancing connectivity and mobility of people.
The two officials conveyed their government’s wishes on the PTA and Air Agreement at a business conference on India-Philippines Infrastructure Cooperation held on 18 Feb 2021.
Tugade has highlighted potential projects in the field of railways, airports, shipbuilding, ports and urban infrastructure in the Philippines during the conference.
He drew special attention of the participating Indian companies towards the ongoing 104 ports projects, 116 airport projects, increasing the length of Philippine Railway Network from 77-km to more than 1,200-km during 2016-22, construction of Metro Manila Subway (the first in country), Paranaque Integrated Terminal Exchange (the first land-port in the country) and container port in Cebu.
Lopez appreciated work of GMR Airports in completing of Cebu-Mactan Airport and Clark International Airport and invited Indian companies to take an active part in his country’s “Build, Build, Build” (BBB) Program.
The Indian Ambassador Shambhu S Kumaran pointed out that the business event was part of the ongoing efforts of deepening of India-Philippines relationship in the context of the new strategic construct of “Indo-Pacific” where both countries are central actors.
The event was jointly organized by the Confederation of Industry (CII) and Philippine Chamber of Commerce and Industry (PCCI) in coordination with the Embassy of India in Manila. This was the second business event organized jointly by them within the period of six month. #tenders #projects #trade #exports #investment #technology /fiinews.com
