FTAs seen to boost Qatar-Philippines trade, says official

DTI Secretary Alfredo E Pascual.

The Department of Trade and Industry (DTI) in the Philippines is actively working on enhancing market access for the country’s exports through free trade agreements (FTAs) and increasing the global mindshare of Philippine brands through the expansion and diversification of its exports and their destinations, an official has said.

DTI Secretary Alfredo E Pascual told Gulf Times this initiative is part of efforts to promote the Philippines as an attractive investment destination for Qatari investors and other countries.

Previously, Pascual met with HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani on the sidelines of the the Qatar Economic Forum 2024 to discuss various topics further to strengthen the Philippines’ economic partnership with Qatar.

The topics discussed during the meeting include the finalisation of the Philippines-Qatar Investment Promotion and Protection Agreement (IPPA) and the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting in the first quarter of 2025.

“With the continuous collaboration of DTI, our nation enjoys access to various markets, including the ASEAN market, the Regional Comprehensive Economic Partnership (RCEP), and the Philippines-Japan Economic Partnership Agreement (PJEPA), among others. These agreements underscore our commitment to fostering economic growth and international cooperation,” Pascual said.

According to Pascual, the Board of Investments (BoI), the Philippine Economic Zone Authority (PEZA), and the attached agencies of the DTI are also responsible for the development of investments in the Philippines.

“Leading the promotions of various industries and investment opportunities, the BOI and PEZA currently assist Filipino and foreign investors to venture and thrive in vast areas of economic pursuits and act as a one-stop shop in doing business in the Philippines,” Pascual further said.

Asked for insights or updates on the DTI’s efforts to streamline processes and provide support services for Qatari companies interested in doing business in the Philippines, Pascual said the signing of Executive Order No 18 or the “Constituting Green Lanes for Strategic Investments” exemplified the administration of President Ferdinand “Bongbong” R Marcos Jr’s crucial reform in addressing investor pain points.

“This whole-of-government approach tackles the bureaucratic hurdles across different agencies, specifically targeting clean energy, infrastructure, green metals, electric vehicles, and pharmaceutical industries.

“We have facilitated the creation of a One-Stop Action Centre for Strategic Investments (OSACSI), which manages the ‘Green Lane’. As mentioned by President Ferdinand R Marcos Jr, services must be fast, projects must be completed on time, deadlines must be met as scheduled, and distress calls must be responded to without delay,” Pascual pointed out.

As of May 9, 2024, Pascual said the OSACSI has approved a total of 64 projects worth $35.19mn (P1.9bn) – 55 projects in renewable energy, five in digital infrastructure and two each in food security and manufacturing.

Asked about upcoming trade missions or business delegations planned by the DTI to further explore opportunities in Qatar, Pascual said aside from the JECTC in Q1 next year, the DTI regularly holds business matching initiatives in February every year.

“The DTI, through its Export Marketing Bureau (EMB) and the Philippine Trade and Industry Centres (PTICs), regularly conducts outbound business matching missions to the Gulf Co-operation Council (GCC) countries, including Qatar,” he added.