Finance Secretary Ralph Recto met with Malaysian Ambassador to the Philippines H.E. Dato' Abdul Malik Melvin Castelino to discuss areas of strategic partnership on June 10, 2024. The discussion primarily focused on enhancing trade and investment between the Philippines and Malaysia with Secretary Recto noting that there is much potential for the two nations' economic partnership to grow.
Two of Southeast Asia's emerging economies, the Philippines and Malaysia, on Thursday agreed to expand bilateral relations and discussed ways to enhance economic opportunities by identifying areas of cooperation.
Finance Secretary Ralph Recto met with the Ambassador of Malaysia to the Philippines and agreed to collaborate on areas for possible synergy.
Finance Secretary Ralph Recto, in a clear demonstration of commitment, stated, "We're both committed to enhancing our economic relationship. It is our desire to improve both trade and investments between both countries." This reassures the audience of the seriousness with which the officials are approaching this matter.
In a social post, the Department of Finance (DOF) said Recto met with the Malaysian Ambassador to the Philippines, Dato Abdul Malik Melvin Castelino, on June 10, 2024, at the DOF office in Manila to discuss areas of strategic partnership.
The discussion primarily focused on enhancing trade and investment between the Philippines and Malaysia with Recto, noting that the two nations' economic partnership has much potential to grow.
Data from the Philippine Statistics Authority showed that in the first four months of the year, Malaysia ranked as the country's 11th export market and 9th most significant source of imports.
Philippine exports to Malaysia during the period amounted to $735 million.
The total value of imported goods, meanwhile, reached $2.04 billion.
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