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Phl-Indonesia vow to enhance bilateral trade and investment relations

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Echoing President Ferdinand R. Marcos Jr.’s efforts to boost the country’s foreign direct investments, Department of Trade and Industry Secretary Fred Pascual delivered a keynote speech at the Joint Philippines-Indonesia Roundtable Meeting on 10 January 2024, which was held at The Manila Peninsula, Makati City. In his message, Secretary Pascual shared the DTI’s commitment to fostering an open and conducive business environment that will bolster the country’s bilateral trade and investment deal with Indonesia.

Further highlighting the untapped trade potential between the Philippines and Indonesia, the DTI chief proposed a deepened cooperation on Halal through a mutual recognition agreement (MRA). The agreement aligns with Indonesia’s goal to boost regional connectivity which encourages the flow of goods and revitalizes trading routes between the two nations.

Minister for State-owned enterprise Republic of Indonesia Erick Thohir headed the Indonesian delegates comprised of Permanent Committee for Multilateral Helga Kumontoy, Group CEO Indivara Jusuf Sjariffudin, Head of the Permanent Committee of Investment Planning Reza V Maspaitella, and Vice Chairman for International Relations Bernardino Vega.

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