Philippines to Start Trade Talks with India Next Year

The Philippines is looking to begin talks for a preferential trade agreement (PTA) with India next year, with the Department of Trade and Industry (DTI) currently in the process of concluding its trade negotiations with the European Union and Canada. “I hope we can start negotiations next year,” Trade Undersecretary Allan B. Gepty told reporters on the sidelines of a briefing last week. He said that the PTA will focus on improving market access for goods trade between the Philippines and India. “When it comes to preferential trade agreements, usually the coverage is limited to goods,” he said. Indian Ambassador to the Philippines Harsh Kumar Jain said in July that both countries have agreed on the terms of reference for the PTA negotiations. India was the Philippines’ 15th largest trading partner as of the end of July, with total trade valued at $320.70 million during the period. Trade Secretary Maria Cristina A. Roque has said that the department is working to conclude five free trade agreements (FTAs) this year. The DTI is seeking to conclude its negotiations for bilateral FTAs with Canada and the European Union within the year, as well as the updated Japan-Philippines Economic Partnership Agreement. In January, the Philippines signed a free trade deal with the United Arab Emirates, while concluding FTA negotiations with Chile in July. Meanwhile, the Philippines and Canada finished the fourth round of FTA talks on Sept. 8-11 in Toronto. “We have achieved substantive and positive progress and we are on track in concluding the FTA negotiations within the year,” Mr. Gepty said. Mr. Gepty said there is no need to hold another full round of talks for the Canada FTA, and any additional inputs will be discussed via small meetings. “We’re just left with very few remaining issues that we will address maybe virtually and through small meetings.” During the latest round of talks for the Philippine-Canada FTA, the DTI reported progress in the text-based and market access discussions. — Beatriz Marie D. Cruz