Binay to promote more trading between Philippines, India


09:33 PM December 17th, 2012

By: Tarra Quismundo, December 17th, 2012 09:33 PM

Vice President Jejomar Binay. FILE PHOTO

MANILA, Philippines — Vice President Jejomar Binay is set to meet with business leaders in New Delhi this week to generate greater Indian investor interest in the Philippines.

Binay will represent the Philippines in behalf of President Aquino at the Asean-India Commemorative Summit between member-nations of the Association of the Southeast Asian Nations and their Asian neighbor.

“This summit will gather government and business leaders from India and the Southeast Asian countries. I am optimistic this will be instrumental in realizing our shared vision of attaining lasting peace and equitable progress,” Binay said in a statement.

The summit commemorates 20 years of relations between Asean and India and is expected to culminate in the adoption of the Asean-India Vision Statement 2020, which would “chart the future direction” of such relations in the coming years, according to a statement from Binay’s office.

While in New Delhi, Binay will keynote the Asean-India Business Fair and Forum.

Binay will also meet with the Filipino community in the Indian capital.

Bilateral trade between the Philippines and India reached $1.06 billion (roughly P40 billion) in 2011, with Indian interests in Philippine mining, information and communication technology and BPO industries.

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