MANILA, Aug 18 — Malaysia welcomes the positive momentum in its economic relations with the Philippines and hopes that bilateral trade can reach US$10 billion (RM40.56 billion) within the next two years, said Foreign Minister Datuk Seri Mohamad Hasan.
Currently, Malaysia and the Philippines enjoy strong bilateral trade, which reached US$8.22 billion (RM33.34 billion) in 2025.
“There is significant potential for both countries to further strengthen their economic ties, particularly by deepening cooperation in the digital economy.
“We also discussed emerging areas such as energy transition,” he said during a media conference after co-chairing the Ninth Philippines-Malaysia Joint Commission Meeting (JCM) with Philippine Foreign Secretary Ma. Theresa P. Lazaro at the Foreign Affairs Department today.
The Philippines ranked as Malaysia’s 17th-largest trading partner globally and fifth within ASEAN last year with US$8.22 billion in trade. Meanwhile, Malaysia was the Philippines’ ninth-largest trading partner globally and fourth-largest within ASEAN.
Bilateral trade from January to May 2026 increased 9.5 per cent to US$4.21 billion (RM17.08 billion), from US$3.46 billion (RM14.04 billion) in the same period last year.
Mohamad added that Malaysia and the Philippines, as close neighbours and ASEAN partners, play a crucial role in ensuring the regional bloc remains united, resilient, competitive, and relevant.
“Our cooperation should continue to translate into tangible benefits for our businesses, communities and peoples,” he said.
