India wants a preferential trade agreement (PTA) with the Philippines to accelerate investments and strengthen relations, according to its ambassador in Manila. READ:
“While our trade has increased quite considerably, it is not keeping up with the growth in our respective economies,” Indian Ambassador Shambhu S. Kumaran said on the sidelines of a lunch meeting with“I do feel that this is the right time to have an enabling preferential trade agreement. It will be quick, ambitious, but realistic,” he added.
Mr. Kumaran said the Philippine and Indian governments have agreed, in principle, to work on a preferential trade agreement. “While I’m not suggesting that it can happen in the Philippine context, we will be very ambitious with regard to the timeframe,” he added., the Department of Trade and Industry said the Philippines is still awaiting comments from the Indian side before finalizing the terms of reference .
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