Speaking at a high-level CEO Roundtable at the Taj Mahal Hotel in New Delhi as part of his historic State Visit to Indian on Aug. 4 to 8, Marcos said the PTA would address sensitivities while maximizing mutual gains, backed by strong support from both governments and the private sector.
“We are two of Asia’s fastest growing economies. We are powered by youthful, skilled populations. Moreover, we are both committed to building resilient, innovation-driven economies that deliver opportunities for our people,” Marcos told an audience of senior business executives and top officials.
The President tasked the Department of Trade and Industry (DTI) to coordinate with Indian counterparts to reconvene the Joint Working Group soon and to lead efforts toward establishing the PTA, laying a strong foundation for deeper, more predictable, and mutually beneficial trade and investment ties.
The roundtable, co-organized by the DTI and the Federation of Indian Chambers of Commerce and Industry (FICCI), gathered leaders from priority sectors including infrastructure, energy, healthcare, digital services, and manufacturing.
Participants included Indian firms with active or planned investments in the Philippines and Filipino companies expanding in India.
The President also promoted the Philippines as a strategic investment destination, highlighting key reforms aimed at making the country more competitive and investor-friendly.
These include Executive Order No. 18 establishing Green Lanes for Strategic Investments, the Public-Private Partnership (PPP) Code, the liberalization of foreign ownership in renewable energy, the CREATE MORE Act to enhance fiscal incentives, and the Enterprise-Based Education and Training (EBET) Framework Act to strengthen human capital.
He underscored opportunities for enhanced business-to-business cooperation in ICT, digital technology, semiconductors, renewable energy, infrastructure, healthcare, and pharmaceuticals. “These are areas where our countries can combine strengths, share expertise, and deliver results that make a tangible difference to our peoples’ lives,” he said.
Joining Marcos at the event were Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go; Trade Secretary Ma. Cristina A. Roque; Finance Secretary Ralph G. Recto; Information and Communications Technology Secretary Henry Rhoel Aguda; Foreign Affairs Secretary Ma. Theresa Lazaro; Tourism Secretary Christina Frasco; Interior Secretary Juanito Victor Remulla; Philippine Ambassador to India Josel Ignacio; and Indian officials including Minister of Commerce and Industry Shri Piyush Goyal and Minister of State for External Affairs Shri Pabitra Margherita.
FICCI president Harsha Vardhan Agarwal and FICCI Philippines chair Rex Daryanani also attended, along with executives from companies in both markets.
Roque said the DTI is committed to making it easier for Indian firms to establish and grow their businesses in the Philippines.
“We view your companies not merely as investors, but as long-term partners in nation-building,” she said. “Our strategic location in Southeast Asia, and preferential access to key markets through our extensive network of free trade agreements, makes us one of the most reliable partners.” —Ed: Corrie S. Narisma
