Philippines' Marcos eyes India trade, defence in talks with Modi
"They are also expected to exchange views on regional and international issues of common concern,' Foreign Affairs Assistant Secretary Evangeline Ong Jimenez-Ducrocq said in a briefing on Friday (Aug 1). Marcos' trip to India is set on Aug. 4-8 upon Modi's invitation.
"We recognise the economic and strategic potentials of India, and we hope to open up possibilities for the future,' Jimenez-Ducrocq said.
Marcos' efforts to expand economic cooperation with India, one of the world's largest and fastest-growing economies, come amid the implementation of US President Donald Trump's tariffs this month.
The 19 per cent tariff imposed on Philippine goods is on par with many other South-East Asian nations, removing a trade advantage that Manila had touted when the US initially threatened a 17 per cent levy in April, which was among the lowest rates in the region that time. The US levy on India's goods is set at 25 per cent.
Marcos' visit to India also comes at a time when the two nations - which face a similar security concern - are improving defence ties. Manila has a territorial dispute with Beijing in the South China Sea while New Delhi has a border row with China over the Himalayas.
The Philippine and Indian navies are set to hold joint maritime exercises in waters facing the South China Sea from Sunday, Philippine military chief Romeo Brawner Jr. told reporters on Thursday evening.
Brawner said Manila is looking at ordering more weapons systems and equipment from India. The Philippines previously procured a shore-based anti-ship missile system from India's BrahMos Aerospace Pvt. Ltd., a contract worth 18.9 billion pesos (US$324 million), as the nation boosts its coastal defense.
"We still have two sets of BrahMos systems that will arrive in the next few years,' Brawner said, adding that other weapons systems of the Philippine Navy are also from India. "We found out that what's made in India are of high quality but not too costly. So it's good if we partner with India.' - Bloomberg
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