22 June 2020 – Philippine Ambassador Ramon S. Bagatsing, Jr. delivered a Special Address during the Webinar on “Harnessing the India-Philippines Business Potential in Post - COVID-19 Era” on 22 June 2020 which was jointly organized by the Philippines-India Business Council (PIBC) and the Federation of Indian Chambers of Commerce and Industry (FICCI). Philippine Trade Investment Center in New Delhi Commercial Counsellor Eugenio C. Elevado, Jr. was also present during the panel discussion.

In his Special Address, Ambassador Bagatsing underscored the recent developments in the bilateral relations of the Philippines and India specifically on the recent telephone conversation of President Rodrigo R. Duterte and Prime Minister Narendra Modi on 09 June 2020, where they affirmed their cooperation and commitment in combating the COVID-19 pandemic.The Ambassador further stated that the Philippines recognizes India’s leading role as global producer and source of affordable and accessible medicine and appreciates India allowing export of pharmaceutical products to the Philippines. The Philippines has high hopes with India’s working on the development of vaccine for COVID-19 and that it may be benefitted from this breakthrough. On the other hand, he conveyed the Philippine commitment to enhancing its trade and investment relations, and economic cooperation with India through the Joint Working Group on Trade and Investment (JWGTI) and is looking forward on the conclusion of various Philippine-India MoUs/Agreements within this year.

The Ambassador also highlighted the economic diplomacy initiatives and activities he undertook in India as important avenues to encourage Indian business investment and/or expand their businesses in the Philippines. The Philippines targets to become the Regional Headquarters of the ASEAN in the areas of Pharmaceutical and Information Technology and is keen to pursue deeper trade and investment relations with India under the bilateral track, notwithstanding the existing ASEAN-India Free Trade Agreement (FTA) and ongoing RCEP negotiations. Both sides can explore the feasibility of a bilateral FTA to entrench its strategic economic partnership.

The webinar’s panel discussion was also participated by the representatives of Tata Consultancy Services (Philippines) Inc., South East Asia Wockhardt Ltd., Med-Tel, Sindicatum Renewable Energy Company, Hinduja Global Solutions (Philippines), HealthCore Philippines/HEART Alliance Philippines, and MedixServe.The webinar focused on the new normal for both the Philippines and Indian businessmen on navigating through business and collaborative opportunities. It discussed the current challenges and steps taken to stabilize and enhance the economic conditions for business and investment between the Philippines and India. It also highlighted the bilateral relations between the Philippines and India as well as the emerging areas of cooperation, providing attendees insights from industry experts from both the public and private sectors of the two countries.