India-Philippines trade pact talks at advanced stage, says business forum chief

Manila [Philippines], November 15 (ANI): Talks on a preferential trade agreement between India and the Philippines are at an advanced stage, India Business Forum Philippines President Dileep Tiwari said ahead of Prime Minister Narendra Modi's two-day visit to Manila.
He said lower duties under the proposed pact could make Indian goods more competitive in the Philippines and give local buyers an alternative to Chinese imports.
“The Preferential Trade Agreement is currently in talks, but it is on a very advanced stage,” Tiwari told ANI. He said a joint working group was actively working on the agreement and had held several meetings.
Tiwari said greater competition among suppliers could bring down prices for Philippine consumers. “Whenever competition increases, prices drop. So, prices will go down, which means the ultimate buyers, the Filipino consumers, will benefit,” he said.
Bilateral trade reached USD 3.9 billion in 2025-26, according to a Commerce Ministry release issued after the June meeting of the India-Philippines Joint Working Group on Trade and Investment in Manila. The ministry said the two sides discussed completing the review of the ASEAN-India Trade in Goods Agreement and pursuing a bilateral preferential trade agreement thereafter. The ministry's latest quick estimates showed India's merchandise exports to the Philippines rose 11.2 per cent year-on-year to USD 1.56 billion in April-October 2026.
Prime Minister Modi will visit Manila from November 16 to 17 at the invitation of Philippine President Ferdinand R Marcos Jr., the Prime Minister's Office said in a release. 
He will attend the 23rd ASEAN-India Summit and the 21st East Asia Summit on November 17. The two leaders agreed to deepen trade and investment ties when they met on the sidelines of the BRICS Summit in New Delhi in September.
Tiwari also identified agricultural technology as an area where Indian companies could find new business. He said the forum planned to host a technology summit in March 2027 and invite Indian startups in agricultural technology, financial technology and education technology. (ANI)