The Philippines and Malaysia agreed to convene their Joint Commission to discuss new areas of synergies, in particular on food security, halal industry, and Islamic banking.
“In the spirit of exploring synergies for future partnerships, we agreed to convene the next Philippines-Malaysia Joint Commission Meeting in the near future. I believed the date that we decided upon was around sometime in October,” President Ferdinand Marcos Jr. said during a joint press conference with Prime Minister Anwar Ibrahim in Putrajaya, Malaysia yesterday.
Mr. Marcos said discussions between the Philippines and Malaysia will focus on transnational crimes, agriculture, Halal industry, Islamic banking, education, tourism and culture, sports, and the digital economy.
“Building on our bilateral relations, our governments commit to closely coordinate efforts to build capacity in the Bangsamoro Autonomous Region in the southern Philippines, in Muslim Mindanao, especially in sectors such as the Halal industry, Islamic Banking, and Food Security,” the President said.
“We have outstanding MOUs, which both of us agreed to accelerate the process and where we should find ways to resolve and then hopefully sign prior to the — or during the commission meeting,” Prime Minister Ibrahim added.
Malaysia has offered to aid the Philippines in training Filipino personnel and officials to boost the capabilities of those in the vital sectors of development, Mr. Marcos said.
“With Malaysia being one of the leading halal economies in the world, cooperation in this sector would mutually benefit the growth of our respective halal ecosystems,” he added.
In return, the Philippines committed to improve trade and investment ties.
In 2022, Malaysia was ranked 22nd among the Philippines’ top investors and the fourth source of foreign direct investment with $105.7 million, registering a 56.4-percent growth from January to September 2022.
“As I mark my second year as President of the Philippines, this state visit not only attests to the importance we place on Malaysia as a neighbor and as a partner in ASEAN, but also reaffirms the Philippines’ commitment to further cultivating our bonds and friendship especially as we look forward to celebrating our 60th anniversary of formal diplomatic relations with Malaysia next year,” Mr. Marcos said.
