Philippines, Thailand agree to boost trade and investment cooperation

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BANGKOK, May 27 – The Philippines and Thailand agreed Thursday to boost their bilateral trade and investment cooperation, according to Thai Prime Minister Abhisit Vejjajiva.

Speaking after the bilateral talks with visiting Philippine President Benigno Aquino III, Mr Abhisit said he and the Philippine leader were satisfied with the discussion in which a progress in the cooperation in various areas, particularly the trade and investment, made in the discussion.

He said Manila promised to reduce trade barriers, which would lead to an increase in the value of trade between the two countries.

Mr Abhisit said both countries also agreed to hold the first meeting of their Joint Trade Committee to discuss ways to promote trade and investment and cope with various obstructions.

But a schedule of the meeting had yet to be set.

They also proposed holding a meeting of the Joint Committee on Bilateral Cooperation between Thailand and the Philippines to oversee bilateral ties and cooperation in areas such as establishing a joint committee on energy and education.

Other issues raised at the meeting included approaches against human trafficking, and countering terrorism, transnational crime, and narcotics smuggling, he said. (MCOT online news)