Free trade agreements are expected to help bilateral trade between the Philippines and India reach $10 billion within the next five to six years, Philstar Biz reported. The projection highlights the potential for deeper economic ties between the two Asian economies.
The target would be achieved through greater utilization of existing free trade agreements, according to the report. The Philippines, as an ASEAN member, and India have a trade in goods agreement that has been in effect for years, with ongoing efforts to expand and modernize its scope.
Reaching the $10 billion mark would represent a significant jump in current trade volumes and would require sustained growth across key sectors. Commodities such as electronics, automotive parts, and agricultural products are seen as potential drivers, along with services and investment flows.