New Delhi–President Ferdinand R. Marcos Jr. on Wednesday urged Indian business leaders to seize growing opportunities in the Philippines, pitching the country as a prime investment destination.
The President also announced efforts to fast-track a Philippines–India Preferential Trade Agreement (PTA).
President Marcos met with 20 top business leaders from both the Philippines and India to discuss potential investment opportunities during the Philippines–India CEO Roundtable held at the Taj Mahal Hotel in New Delhi.
The roundtable meeting was one of the highlights of the President’s August 4 to 8 State Visit to India.
It was attended by half of the President’s Cabinet, an “indication of our commitment to making this a productive and constructive visit for which we are hoping to bring home a great much progress in the deepening relationship between India and the Philippines on many fronts,” said President Marcos.
President Marcos underscored his administration’s commitment to deepening economic ties with India and directed the Department of Trade and Industry (DTI) to lead efforts in pursuing a formal trade pact.
Recalling his consensus with Indian Prime Minister Narendra Modi for the expeditious conclusion of the negotiations of the Preferential Trade Agreement (PTA) to lay a “strong foundation for deeper, more predictable, and mutually beneficial economic integration,” the President directed the DTI to lead Philippine efforts towards initiating formal negotiations with India soonest.
President Marcos assured the business community that the Philippine government is committed to fostering a responsive and investor-friendly environment by actively listening to their concerns and acting on them.
“The Philippine government hears you. We are ready to act, and we’ll work closely with our Indian partners to translate your priorities into real opportunities,” the President noted. “We are here not only to present to you the Philippines as an investment, as an investment destination, we are also here to listen to you, so that we in the Philippines know what it is that you require to bring that investment to the Philippines.”
President Marcos said the Philippines and India’s engagements were “vital in creating the spaces where governments and businesses can come together, not simply to exchange ideas, but to build real partnerships that support jobs, innovation, and inclusive growth.”
“I’m most grateful to be welcomed by your confidence in the Philippines and the Filipino people. Our discussions today have demonstrated the strength of our strategic partnership, especially in trade and investment. They certainly show how far we have come and how much more we can achieve if we continue to work together in a spirit of cooperation and shared prosperity,” said President Marcos. (PND)
