The Philippines Department of Trade and Industry (DTI) on Thursday urged companies of India to invest in its construction companies.

Accorcing to the report, DTI urged Indian companies to invest to explore possible partnerships with Philippine firms for construction projects. During the Business Conference on India-Philippines Infrastructure Cooperation webinar told attendees, Trade Secretary Ramon Lopez said, "construction and related engineering services was our top export product in the 1970s." He further said,  "In 2020, you were the Philippines' 14th top trading partner, our 13th top export market and our 13th foremost import supplier. What's more, you were our 15th top investment partner for 2019, with the same ranking as of January to September 2020. However, there are still many economic opportunities that have yet to be fully tapped for our bilateral relations to reach their full potential.'

The Philippine Ambassador to India  Ramon Bagatsing also asserted that the two countries should improve their trade and investment ties and cited the need for them to sign a preferential trade agreement. He told Lopez, "We hope we can get moving on our discussions on the preferential trade agreement between the Philippines and India, so we can hasten further partnerships between our two countries.

Also Read:

China urges WHO to do origin tracing in US

Save the environment: Gwalior city to set up 'carry bag' bank

Portugal authorizes states to hire foreign nurses