President Ferdinand R. Marcos Jr. on Wednesday renewed the Philippines’ push for a Preferential Trade Agreement (PTA) with India, calling it a key step toward expanding market access and strengthening supply chain resilience between the two countries.

Marcos made the pitch during a CEO roundtable meeting with Indian business leaders on the third day of his state visit.

The proposed PTA, Marcos said, would institutionalize trade facilitation mechanisms and support deeper economic integration, especially in sectors where the Philippines and India see strong complementarities.

Palace Press Officer Claire Castro, in a briefing with the Philippine media delegation, said the President emphasized the agreement’s potential to open broader economic opportunities.

“Binigyang diin ni Pangulong Marcos Jr. ang pagsasa-pormal ng Philippine-India Preferential Trade Agreement, o PTA, na magbubukas ng mas malawak na market access, pag-institutionalize ng trade facilitation at pag-reinforce ng supply chain resilience (President Marcos Jr. emphasized the finalization of the Philippine-India Preferential Trade Agreement, or PTA, which would open wider market access, institutionalize trade facilitation, and reinforce supply chain resilience),” Castro said.

The roundtable meeting was organized by the Philippine Department of Trade and Industry (DTI) in coordination with India’s Ministry of Commerce and Industry.

In his remarks, Marcos highlighted the Philippines’ growing potential as a trade and investment destination.

He urged Indian businesses to explore opportunities in areas such as semiconductors, digital technology, infrastructure, renewable energy, pharmaceuticals, and healthcare.

He also cited a number of recent government reforms meant to improve the ease of doing business and attract strategic investments. These include Executive Order 18 establishing green lanes for key investments, the newly enacted Public-Private Partnership Code, and amendments to the Renewable Energy Act that allow full foreign ownership in the sector.

The President also pointed to the CREATE MORE Act, signed in November 2024, which clarifies VAT and duty incentives, streamlines rules for registered business enterprises, and lowers the cost of doing business in the country.

“Layunin ng mga measures na ito na time-bound, performance-based and transparent ang Pilipinas sa gitna ng pabago-bagong pangangailangan ng mga investor (These measures aim to make the Philippines time-bound, performance-based, and transparent amid evolving investor demands),” Castro said.

Marcos also underscored the importance of human capital development, citing the passage of the Enterprise-Based Education and Training (EBET) Framework Act.

The law aims to raise the skills and competitiveness of Filipino workers in various industries.

The President reported that bilateral trade between the Philippines and India reached USD3.3 billion from 2024 to 2025, a figure that reflects not only growing exchanges but also stronger alignment between the two economies.

He added that the Philippines’ 5.7 percent gross domestic product (GDP) growth in 2024, stable credit ratings, and healthy banking sector are further proof of its solid macroeconomic fundamentals.

To sustain the momentum, Marcos directed the DTI to lead negotiations on the PTA and to convene a Joint Working Group on Trade and Investment with Indian counterparts, Castro said.

He assured Indian business leaders of his administration’s support in building a predictable and enabling business climate. (PNA)