Doha, 17 May 2024 (QT)
By Ashraf Siddiqui
Philippines Secretary of Department of Trade and Investment Alfredo E. Pascual has expressed his country’s keenness to strengthen bilateral trade relationship with Qatar.
Talking exclusively to Qatar Tribune on the sidelines of the 4th Qatar Economic Forum which concluded on Thursday, Pascual thanked the Qatar government for taking good care of more than 200,000 Filipino workers in Qatar.
He stressed the commitment to further improve the trade relations between the two countries.
A statement published on official website Department of Trade and Industry of Philippines (DTI) on Wednesday highlighted the meeting between visiting Philippines Secretary of Trade and Industries with Minister of Commerce and Industry of Qatar, HE Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani on the sidelines of World Economic Forum.
According to the statement, the two parties agreed to finalise the ratification process of the Philipines-Qatar Investment Promotion and Protection Agreement (IPPA) within the year.
The report further stated Philippines Secretary of Department of Trade and Investment Alfredo E. Pascual that the Philippines completed its domestic ratification procedures in April. “The entry into force of the IPPA is expected to significantly deepen investment figures contributing to our mutually shared prosperity,” Secretary Pascual underscored.
The DTI website further stated that in addition to the IPPA discussions, the DTI and Ministry of Commerce and Industry also agreed to pursue a MoU to strengthen cooperation on intellectual property rights (IPR) protection. This MoU will facilitate the exchange of information and best practices, training programmes and highlevel dialogues on IP policy.
Highlighting the growing economic ties between the Philippines and Qatar, Secretary Pascual said, “We are pleased with the progress made in this meeting and we are positive that the finalisation of the IPPA ratification process will soon pave the way for its full implementation.
“The Philippines is eager to further strengthen its economic partnership with Qatar through enhanced investment f lows, increased cooperation on intellectual property rights and the establishment of the Joint Economic, Commercial and Technical Committee.”
He added, “We believe that this collaboration will not only benefit our two countries but also contribute to greater prosperity and stability in both the Gulf and Southeast Asia regions.”
During the discussion, both countries also affirmed their commitment to proactively collaborate on creating a business friendly environment that will facilitate greater trade, investment and economic cooperation.
The DTI website also said that the meeting discussed holding the inaugural Philippines-Qatar Joint Economic, Commercial and Technical Committee (JECTC) meeting in the first quarter of 2025.
The two countries also agreed on organising a business forum and a business-to-business matching session on the sidelines of the JCETC.
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Strengthening the bilateral economic trade relationship between Qatar and the Philippines will surely benefits both countries especially our country Philippines in-terms of trade and business. Great article Mr. Siddiqui