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India – Philippines bilateral relations
India – Philippines bilateral relations
Introduction
India Philippines relations, also known as Indian-Filipino relations or Indo-Filipino relations, refers to the bilateral relations between the India and the Philippines. Diplomatic relations between India and the Philippines was established in 1949. India maintains an embassy in Manila, whilst the Philippines maintains one in New Delhi. A Treaty of Friendship was signed between the Philippines and India on 11 July 1952.
Joint Commission on Bilateral cooperation
The agreement to establish a Joint Commission on Bilateral Co-operation was signed during the state visit to India of President Gloria Macapagal Arroyo on 5 October 2007. The establishment of the Joint Commission on Bilateral Co-operation aims to further strengthen and develop the co-operation in the field of trade, economy, science, technology and other fields of co-operation. It was decided that the meeting of the Joint Commission will be co- chaired by the two countries’ Ministers for Foreign Affairs who will meet once every two years.
The inaugural session of the Joint Commission was held on 15 March 2011, co-chaired by Foreign Affairs Secretary Albert F. Del Rosario, and was held in New Delhi. During the meeting both sides agreed to move forward on co-operative initiatives in various fronts (trade, agriculture, defence).
During the 2018 ASEAN–India Commemorative Summit in New Delhi, where the Delhi Declaration was signed, Philippines-India relations was one of the two most focal bilateral discussions made. India is targeting billions of investments in Philippine markets, notably in the pharmaceutical, information technology, energy, and transportation which would lead to the creation of 10,000 jobs.
Trade relations
According to India’s Ministry of External Affairs, India-Philippines trade is at around $1.6 billion. Economic relations have grown gradually over the years. Despite the impact of the India-ASEAN FTA in Goods, the India- Philippines trade has, so far, been at around $1.981 billion in 2016–17. In the year 2016–17, India’s exports amounted to worth US$1487 million and imports worth US$494 million. India-Philippines trade in 2018-19 has been at around US $ 2.32 billion (Exports from India to Philippines-US $ 1743 million and Imports from Philippines by India- US $ 581 million).
However, a number of growth drivers suggest a major and sustained growth in two-way trade and investment, helped by the conclusion of the India-ASEAN Trade in Services and Investment Agreements. Indian investment in the Philippines is mainly in the areas of textiles, garments, IT&ITes, steel, Airports, chemicals, Automobiles and pharmaceuticals.
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