Sincere efforts are imperative to increase bilateral trade between Philippines and Pakistan as trade volume between the two countries is very low.
This was stated by Philippines Ambassador to Pakistan Mr. Daniel Ramos Espiritu while addressing a meeting at Faisalabad Chamber of Commerce & Industry (FCCI) on Monday.
He said that Philippines is already importing large quantity of rice worth 260 billion Dollars as rice consumption in Philippines is much higher than in China. Now Philippines will also buy cement of 14 million dollars from Pakistan for its infrastructure development projects.
He said that in contrast to the bilateral trade volume, the trade between the two countries is very low which requires serious efforts to increase. He said that purpose of his visit to Faisalabad was to increase trade and investment between the two countries.
He said that a huge infrastructure project is being launched in Philippines which requires heavy quantity of cement. Therefore, Philippines will import cement from Pakistan too after China and United States. Initially, cement of 14 million dollars will be imported from Pakistan but later on this quantity will be increased gradually, he added.
Philippines Consul Mr. Fahdel Sheikh and FCCI President Engineer Ehtesham Javed also addressed the function while a documentary was screened to highlight Pak-Philippines trade volume.
Later, FCCI shield was also presented to Philippines Ambassador Mr. Daniel Ramos Espiritu.