ISLAMABAD: Ambassador of the Republic of the Philippines to Pakistan Dr. Emmanuel R. Fernandez visited the Islamabad Chamber of Commerce and Industry and discussed ways to expand bilateral trade, investment and business linkages between Pakistan and the Philippines.

The session focused on investment opportunities in the Philippines, ASEAN market access and stronger business-to-business cooperation between the two countries.

During a presentation, Ambassador Fernandez said the Philippines offers strong potential for foreign investors due to its strategic location in Asia and connectivity with ASEAN markets. He highlighted opportunities in manufacturing, renewable energy, agribusiness, information technology, healthcare, tourism, real estate and construction.

He said the Philippines provides investment incentives, including income tax holidays of up to seven years, duty-free imports and VAT exemptions. He also identified halal food products as a promising area for joint ventures targeting ASEAN markets.

The ambassador called for stronger private-sector contacts, exchange of trade delegations and cooperation across multiple sectors. He assured the business community of the embassy’s support and facilitation, particularly for ICCI members.

ICCI President Sardar Tahir Mahmood said Pakistan and the Philippines have significant untapped potential to increase trade and economic cooperation. He noted that Pakistan exports textiles, pharmaceuticals, rice, leather products, sports goods and surgical instruments to the Philippines, while imports include electronic equipment, machinery, chemicals and processed food products.

He said bilateral trade remains below potential despite strong diplomatic relations and called for improved connectivity, business delegations and single-country exhibitions to promote commercial ties.

ICCI Senior Vice President Tahir Ayub stressed the need for private-sector collaboration, joint ventures and technology transfer. Former ICCI president Zafar Bakhtawari said Pakistan should strengthen engagement with ASEAN countries through value-added sectors.

Chairman ICCI Standing Committee on ASEAN Ch. Muhammad Ali said closer cooperation with the Philippines could help Pakistan improve access to ASEAN markets, while also calling for direct flights between the two countries.

Former ICCI president Mian Shaukat Masood emphasized cooperation between IT companies of Pakistan and the Philippines.

Faisal Zahid Malik, Chairman and Editor-in-Chief of Daily Pakistan Observer, described the ICCI initiative as an important step toward strengthening Pakistan’s relations with ASEAN states.

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