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Philippines and Malaysia boost economic ties



Philippines Finance Secretary Ralph Recto and the Malaysian Ambassador to the Philippines, Dato’ Abdul Malik Melvin Castelino, recently met to enhance the economic partnership between the two countries. The Department of Finance (DOF) announced the meeting at the DOF office in Manila. The discussions focused on boosting trade and investment. Recto emphasised the potential for growth in the economic relationship, aiming to improve trade and investments. Data from the Philippine Statistics Authority showed that from January to April, Malaysia was the Philippines’ 11th largest export market and 9th biggest source of imports, with Philippine exports to Malaysia at USD735m and imports at USD2.04bn.

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