PH And Qatar Set To Finalize Investment Pact This Year

The Philippines and Qatar are on track to ratify an Investment Promotion and Protection Agreement (IPPA) within the year, aiming to create a more business-friendly environment that will facilitate greater trade, investment, and economic cooperation between the two nations, the Department of Trade and Industry (DTI) announced.

DTI Secretary Alfredo Pascual revealed that discussions on the proposed agreement were held during his recent meeting with Qatar’s Ministry of Commerce and Industry (MOCI) Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani in Doha. I Photo: DTI Philippines Facebook

DTI Secretary Alfredo Pascual revealed that discussions on the proposed agreement were held during his recent meeting with Qatar’s Ministry of Commerce and Industry (MOCI) Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani in Doha.

They also deliberated on the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting slated for the first quarter of 2025.

This meeting will be accompanied by a business forum and a business-to-business matching session.

Additionally, the DTI and MOCI have agreed to pursue a memorandum of understanding (MOU) aimed at strengthening cooperation on intellectual property rights (IPR) protection.

This MOU will facilitate the exchange of information and best practices, training programs, and high-level dialogues on IP policy.

Pascual highlighted the Philippine delegation's concerns about the proliferation of counterfeit Filipino brands in the Middle East, including Qatar.

He expressed optimism that enhanced cooperation on IPR protection, including the proposed MOU, would address these issues and foster a fair and secure business environment.

"The Philippines is eager to further strengthen its economic partnership with Qatar through enhanced investment flows, increased cooperation on intellectual property rights, and the establishment of the Joint Economic, Commercial, and Technical Committee," Pascual emphasized.

"We believe that this collaboration will not only benefit our two countries but also contribute to greater prosperity and stability in both the Gulf and Southeast Asia regions."