On the sidelines of the Qatar Economic Forum, Department of Trade and Industry (DTI) Secretary Fred Pascual met with Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani of the Qatar Ministry of Commerce and Industry (MOCI). The two parties agreed to finalize the ratification process of the Philippines-Qatar Investment Promotion and Protection Agreement (IPPA) within the year.
The Philippines completed its domestic ratification procedures in April. “The entry into force of the IPPA is expected to significantly deepen the economic ties between the Philippines and Qatar. We are confident that finalizing the ratification process will translate into productive investment figures contributing to our mutually shared prosperity,” Secretary Pascual underscored.
In addition to the IPPA discussions, the DTI and MOCI also agreed to pursue a memorandum of understanding (MOU) to strengthen cooperation on intellectual property rights (IPR) protection. This MOU will facilitate the exchange of information and best practices, training programs, and high-level dialogues on IP policy.
The Philippine delegation expressed concern about the proliferation of counterfeit Filipino brands in the Middle East, including Qatar. They cited that enhanced cooperation on IPR protection, including the proposed MOU, would address these concerns and create a more fair and secure environment.
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 Ministers noted the countries’ shared vision of diversifying and expanding their economies through investments in infrastructure, integrated circuit design and manufacturing, and financial services.
Further, the meeting discussed holding the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting in the first quarter of 2025. This proposal was relayed to His Highness Sheikh Tamim bin Hamad Al Thani, Emir of Qatar in his visit to Manila last April 2024. Furthermore, both countries agreed on organizing a business forum and a business-to-business matching session on the sidelines of the JCETC.
Highlighting the growing economic ties between the Philippines and Qatar, Secretary Pascual emphasized, “We are pleased with the progress made in this meeting and we are positive that the finalization 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 flows, increased cooperation on intellectual property rights, and the establishment of the Joint Economic, Commercial, and Technical Committee. 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.”