The Philippines and Qatar agreed to finalize within the year the ratification process of the Philippines-Qatar Investment Promotion and Protection Agreement (IPPA) seen boosting economic ties between the two countries.
The Department of Trade and Industry (DTI) in a statement said this was agreed during a meeting between DTI Secretary Fred Pascual met with Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani of the Qatar Ministry of Commerce and Industry (MOCI) on the sidelines of the Qatar Economic Forum in Doha on May 14.
The DTI and MOCI also agreed to pursue a memorandum of understanding (MOU) to strengthen cooperation on intellectual property rights (IPR) protection.
The Philippine delegation expressed concern about the proliferation of counterfeit Filipino brands in the Middle East, including Qatar.
The Philippines sees enhanced cooperation on IPR protection, including the proposed MOU, would address these concerns and create a more fair and secure environment.
This MOU will facilitate the exchange of information and best practices, training programs, and high-level dialogues on IP policy.
The DTI said the Philippines completed its domestic ratification procedures on the IPPA in April.
“The entry into force of the IPPA is expected to significantly deepen the economic ties between the Philippines and Qatar. We are confident that finalizing the ratification process will translate into productive investment figures contributing to our mutually shared prosperity,” Pascual said.
During the discussion, both countries also affirmed their commitment to diversify and expand their economies through investments in infrastructure, integrated circuit design and manufacturing, and financial services.
The meeting also discussed holding the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting in the first quarter of 2025 along with a business forum and a business-to-business matching session on the sidelines of the JCETC.
