Manila, Philippines – The Philippines and Italy have established a medium that will strengthen partnership on economy and areas of mutual concern. Foreign Affairs Secretary Perfecto Yasay Jr. and Italian Foreign Minister Angelino Alfano the Philippines-Italy Memorandum of Understanding (MOU) on the Establishment of a Bilateral Consultation Mechanism on January 18 in Rome, Italy, the Department of Foreign Affairs said.
“The MOU on Bilateral Consultations will provide momentum to Philippine-Italian relations by providing a mechanism for its officials to regularly meet and discuss bilateral and global concerns,” Secretary Yasay said.
“The issues that will be discussed during the bilateral consultations will be wide-ranging, encompassing political, economic and transnational, as well as people-to-people ties,” he added.
The two officials also discussed how to strengthen Philippine-Italian relations as both countries will mark the 70th year of the establishment of formal diplomatic relations on July 2017.
“We would like to pursue more trade and investments cooperation with Italy. Philippine-Italian trade has been increasing through the years, but it still has not reached its full potential,” said Secretary Yasay told Foreign Minister Alfano.
Secretary Yasay also thanked Italy for its development assistance in Mindanao. Italy has been providing support for the development of agrarian reform communities in Mindanao in the past years.