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Manila Bulletin devider Philippines devider National devider Marcos: PH, Malaysia to convene joint commission meeting in October

Marcos: PH, Malaysia to convene joint commission meeting in October

Published Jul 26, 2023 11:08 am

KUALA LUMPUR, Malaysia

—The Philippines and Malaysia agreed to convene the next Philippines-Malaysia Joint Commission Meeting to discuss priority cooperation in various areas of mutual interest, President Ferdinand "Bongbong" Marcos Jr. said. President Ferdinand 'Bongbong' Marcos Jr. and Malaysian Prime Minister Anwar Ibrahim hold a joint press conference at the Prime Minister's Office in Putrajaya, Malaysia on July 26, 2023. (Ali Vicoy)
Speaking during the joint press conference with Malaysian Prime Minister Anwar Ibrahim, Marcos said they agreed to convene the joint commission meeting to give Philippine and Malaysian government agencies an avenue to discuss various areas of cooperation in detail. "We do this so that our government agencies will have an avenue to discuss priority cooperation in detail, most especially in the areas of transnational crimes, agriculture, Halal industry, Islamic banking, education, tourism and culture, sports, and the digital economy," the President said on Wednesday, July 26. The Chief Executive further stated that both governments will continue to work on the corresponding memorandum of understanding (MOUs) covering these fields and have them signed. "We’ll have them signed in the near future,” Marcos said. The President said it will be held some time in October. Malaysia was the 10th largest trading partner of the Philippines last year, with trade totaling $8.84 billion. In the same period, Malaysia ranked as the country’s 11th export destination and 9th import source valued at $2.46 billion and $6.38 billion, respectively. In terms of investments, Malaysia ranked 22nd among the Philippines’ top investment partners in 2022 and the fourth source of foreign direct investment (FDI) with $105.7 million, registering a 56.4-percent growth from January to September 2022. The top priority sectors for investment promotion in Malaysia include manufacturing; agribusiness (Halal, value-added processing, and agricultural products manufacturing/ downstream industry); service industry (high-value and value-added services); and, infrastructure and property development. Public-private partnerships (PPPs); energy, especially renewable energy; and  Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA) priority industries also belong to the top sector for promotion in Malaysia. The Philippines established a Legation in Kuala Lumpur in 1959, which was later elevated to an Embassy in 1961. After some roadblocks, relations between Malaysian and the Philippines were formalized in December 1969. [READ MORE: PH, Malaysia to work closely on improving Bangsamoro's capacity, agree to push Halal industry](https://mb.com.ph/2023/7/26/ph-malaysia-to-work-closely-on-improving-bangsamoro-s-capacity-agree-to-push-halal-industry)

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Bongbong Marcos Anwar Ibrahim PBBM in Malaysia Philippines-Malaysia Joint Commission Meeting President Marcos
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