INDIA-PHILIPPINES BUSINESS CONCLAVE
20, Oct 2019
Prelims level : India Bilateral Co-Operation Mains level : GS-II Bilateral Agreement Involving India
Why in News?
- The President of India, Shri Ram Nath Kovind, addressed the India-Philippines Business Conclave and the 4th ASEAN-India Business Summit in Manila, Philippines.
Agreements between India and Philippines:
- India and Philippines have entered into four agreements which includes
- Science and Technology
- exchanging of white shipping data that includes identification and information about the movement of commercial and non-military vessels
- The president’s visit coincides with the 70th anniversary of the establishment of diplomatic relations between the two countries.
- Agreements between both countries will not only strengthen the bilateral relations but also put an impact on China and its dominating image in the region.
- The Philippines can emerge as one of the most focused countries for India’s corporate business expansion. India and Philippines economic-ties can achieve new heights.
- India is hoping to get defence cooperation and participation in weapon modernization of Philippines.
- Several Indian companies are looking for investment opportunities in the health, innovation and pharma sectors.