27-05-2025
- Business
- Malaysian Reserve
Malaysia, the Philippines to explore new cooperation in tourism, investment
by HIDAYATH HISHAM
MALAYSIA and the Philippines are looking to expand bilateral cooperation beyond trade, with new opportunities identified in the tourism and investment sectors
Philippine coordinator for the Brunei-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA), Leo Tereso Magno, said trade volumes between the two countries will also be enhanced following high-level meetings at the 46th ASEAN Summit.
'The Philippines will host the ASEAN Summit next year, and we have strengthened trade since 1994 when we established BIMP-EAGA.
'So what we hope for is that the relationship between Malaysia and the Philippines will be further improved — not just in trade, but also in investment and tourism,' he said.
He described Malaysia as an important regional partner and player in South-East Asia across trade, investment and tourism.
Magno also mentioned that the ASEAN Summit serves as a timely platform to raise pressing regional concerns, including discussions on recent tariff measures by the US.
Earlier, Philippine President Ferdinand Marcos Jr said stronger collaboration among BIMP-EAGA members has laid the foundation for more inclusive, sustainable and innovation-driven growth.
