NATIONAL
Advocates Philippines
PBBM: Philippines, Malaysia To Hold Joint Commission Meeting For Priority Cooperation
Photo credit: PCO
Following a bilateral meeting with Malaysian Prime Minister Anwar Ibrahim, President Ferdinand R. Marcos Jr. announced on Wednesday that the Philippines and Malaysia have agreed to convene the next Philippines-Malaysia Joint Commission Meeting to discuss priority cooperation in various areas of mutual interest.
During a joint press conference with Prime Minister Anwar, Marcos outlined the key areas of cooperation that will be discussed in detail during the Joint Commission Meeting.
These areas include transnational crimes, agriculture, the Halal industry, Islamic banking, education, tourism and culture, sports, and the digital economy.
Both leaders expressed their commitment to work on corresponding Memoranda of Understanding (MOUs) in these fields and expected them to be signed in the near future.
Furthermore, the two nations pledged to collaborate closely in building capacity in the Bangsamoro Autonomous Region in the southern Philippines, particularly focusing on sectors such as the Halal industry, Islamic Banking, and Food Security.
Malaysia offered its expertise to train Philippine personnel and officials to strengthen their capabilities in these important sectors.
Marcos emphasized the significance of enhancing trade and investment ties between the two countries, acknowledging that Malaysia's leading role in the halal economy presents promising opportunities for cooperation.
Additionally, both leaders recognized the importance of ASEAN Centrality and reaffirmed their commitment to support activities within the context of the Association of Southeast Asian Nations (ASEAN) and the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA).
Malaysia played a substantial role in the Philippines' trade and investment landscape, ranking as its 10th largest trading partner last year.
Trade between the two countries reached US$8.84 billion, with Malaysia being the country's 11th export destination and 9th import source.
In terms of investments, Malaysia stood as the 22nd among the Philippines' top investment partners in 2022 and the 4th source of foreign direct investment (FDI), with a significant growth of 56.4 percent from January to September 2022, amounting to US$105.7 million.
During a joint press conference with Prime Minister Anwar, Marcos outlined the key areas of cooperation that will be discussed in detail during the Joint Commission Meeting.
These areas include transnational crimes, agriculture, the Halal industry, Islamic banking, education, tourism and culture, sports, and the digital economy.
Both leaders expressed their commitment to work on corresponding Memoranda of Understanding (MOUs) in these fields and expected them to be signed in the near future.
Furthermore, the two nations pledged to collaborate closely in building capacity in the Bangsamoro Autonomous Region in the southern Philippines, particularly focusing on sectors such as the Halal industry, Islamic Banking, and Food Security.
Malaysia offered its expertise to train Philippine personnel and officials to strengthen their capabilities in these important sectors.
Marcos emphasized the significance of enhancing trade and investment ties between the two countries, acknowledging that Malaysia's leading role in the halal economy presents promising opportunities for cooperation.
Additionally, both leaders recognized the importance of ASEAN Centrality and reaffirmed their commitment to support activities within the context of the Association of Southeast Asian Nations (ASEAN) and the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA).
Malaysia played a substantial role in the Philippines' trade and investment landscape, ranking as its 10th largest trading partner last year.
Trade between the two countries reached US$8.84 billion, with Malaysia being the country's 11th export destination and 9th import source.
In terms of investments, Malaysia stood as the 22nd among the Philippines' top investment partners in 2022 and the 4th source of foreign direct investment (FDI), with a significant growth of 56.4 percent from January to September 2022, amounting to US$105.7 million.
Jul 27, 2023
