Manila, 16 July 2004 – Foreign Affairs Secretary Delia Domingo Albert, together with her Malaysian counterpart Foreign Minister Dato’ Seri Syed Hamid Albar, led the two countries’ delegations in the 5th Philippines-Malaysia Joint Commission Meeting held in Manila on 14-16 July 2004.

The Secretary noted with satisfaction the expanded economic and trade relations between the two countries. “I am pleased to note that since our last meeting, the volume of trade between our two countries increased from USD 2.5 billion in 2000 to USD 3.8 billion in 2003, representing a healthy annual growth rate of 17.3%,” Secretary Albert said, highlighting RP-Malaysian trade. “We must work together to maintain this healthy pace of trade growth by encouraging our respective business sectors to continue searching for market opportunities in our respective development agendas.”

“Both sides shared the optimism on the potential for the expansion of bilateral trade and investment,” Foreign Minister Syed Hamid Albar said. “We are confident that the private sectors of both countries could play leading roles in this area. We also believe on the importance of the continued participation of the private sectors of both countries in trade fairs and exhibitions so as to increase and expand bilateral trade and investment. In this regard, Malaysia is happy to note that the Philippine Government has undertaken measures to improve the business environment and to address problems faced by the Malaysian private sector in the Philippines.”

The Secretary today highlighted the expanded bilateral relations of the Philippines with Malaysia on halal certification, the setting up of a pilgrims fund board for the haj, and on palm oil and rubber production.

Secretary Albert and Minister Albar noted that the increasing level of bilateral cooperation between the two countries, particularly in terms of their bilateral trade and economic cooperation, is an indication of the importance both countries place in the bilateral relations.  They also observed that their common fight against terrorism and transnational crime is another area where close cooperation has yielded positive outcome.

The two countries have also agreed to strengthen their cooperation under the ambit of Brunei Darussalam Indonesia Malaysia the Philippines - East ASEAN Growth Area (BIMP-EAGA).

The Philippine side also expressed its appreciation for Malaysia’s continuing role as facilitator and convener of the peace talks between the Philippine Government and the Moro National Liberation Front.

The Philippines is scheduled to host two other related meetings: the 5th Joint Committee on Border Cooperation and the 3rd Joint Committee on Assistance for the Socio-Economic Advancement of Muslim Filipinos.  These two meetings are expected to be held in the Philippines in the last quarter of 2004.  The next Joint Commission Meeting will be held in Malaysia at a date to be mutually agreed upon by both countries. - END