ICCI President Sardar Tahir reaffirms commitment to strengthening Pakistan–Philippines business relations
Abdul Hadi Mayar Islamabad
Ambassador of the Philippines in Islamabad, Dr. Emmanuel R. Fernandez on Thursday urged the need for greater economic collaboration between Pakistan and the Philippines.
Addressing a reception at Islamabad Chamber of Commerce and Industry, he said his country has great potential and invited the Pakistani investors and businessmen to take benefit of opportune movement for business in Philippines.
Besides President of Islamabad Chamber of Commerce and Industry Sardar Tahir Mahmood, former Presidents, Council members and representatives of the trading community were also present on the occasion. Chairman and Editor-in-Chief of Pakistan Observer Faisal Zahid Malick attended the reception as a guest of honour.
Ambassador Dr. Fernandez highlighted the economic progress and development of Phillippine in diverse fields. He said with a population of 170 million and a growing economy, the Philippines offered great potential of economic collaboration with the regional countries.
Fernandez presented details of the industrial development of Philippines in Information Technology, AI and other spheres of technology. He particularly highlighted the accessibility and other benefits for business and investment collaboration between Pakistan and the Philippines, urging the Pakistani entrepreneurs to take benefits of tax relief and other facilities offered by the Philippines. Earlier, ICCI President Sardar Tahir Mahmood welcomed the Ambassador on behalf of ICCI and its Council members, saying that it was an honour for them to host Ambassador Emmanuel R. Fernandez.
He said the visit of the envoy to the chamber was a symbol of growing friendship between Pakistan and the Philippines. Sardar Tahir Mahmood, welcomed the Ambassador and said that Pakistan and the Philippines have vast untapped potential to enhance bilateral trade and economic relations. He noted that Pakistan exports textiles, pharmaceuticals, rice, leather products, sports goods and surgical instruments to the Philippines, while imports include electronic equipment, machinery, chemicals and processed food products.
Sardar Tahir Mahmood observed that despite strong diplomatic ties, bilateral trade remains below potential. He stressed the need for improved connectivity, exchange of business delegations and organization of single-country exhibitions to promote trade and investment cooperation. He reaffirmed ICCI’s commitment to strengthening commercial linkages with the Philippines.
Senior Vice President ICCI Tahir Ayub highlighted the importance of private-sector collaboration and called for joint ventures and technology transfer between the two countries. Former President ICCI and Chairman Standing Committee on Diplomatic Affairs Zafar Bakhtawari termed ASEAN a successful model of regional cooperation and emphasized greater collaboration in value-added sectors.
Chairman ICCI Standing Committee on ASEAN Ch. Muhammad Ali said that stronger engagement with the Philippines would improve Pakistan’s access to ASEAN markets and stressed the importance of direct flights between the two countries. Former President ICCI Mian Shaukat Masood emphasized cooperation between IT companies of both countries for mutual benefit.
Faisal Zahid Malik, who was specifically invited to the reception as a guest of honour, termed the ICCI initiative a significant step toward strengthening Pakistan’s relations with ASEAN states.
Former ICCI President Zafar Bakhawari threw light on the history of the Philippines and highlighted prospects of economic collaboration between Pakistan and the Philippines.
Among others present on the occasion were Ms. Rain R. Mendoza, Third Secretary and Vice Consul at the Embassy of the Philippines, ICCI Vice President Irfan Chaudhry, Executive Members Waseem Chaudhry, Zulqurnain Abbasi, Rohail Anwar Butt and Ishaq Sial, former Senior Vice President Khalid Chaudhry, senior member Israr Mishwani and a large number of business leaders. Later, commemorative shields were presented to the Ambassador and the guest of honour, Faisal Zahid Malik by the ICCI President.
