New book by Larry Connors Click here Improve your trading - See how
Among the highlights of the event is the awarding of citations to six Philippine government departments and several Indian personalities and organizations for their contributions to the strengthening the relations between the two countries.
To receive the award are the Department of Foreign Affairs (DFA), Department of Justice (DOJ), Department of Trade and Industry (DTI), Department of Tourism (DOT), Department of Agriculture (DA) and the Department of Interior and Local Governments (DILG).
On the Indian side, to receive awards are the Indo-Phil Group of Companies and past presidents of the Federation of Indian Chambers of Commerce and Industry (FICCI).
The President is expected to deliver a speech during the occasion.
Philippine-Indian relations were established in 1949. The late Foreign Affairs Secretary Narciso Ramos was the first Philippine ambassador to India.
In 1952, five years after India's independence in 1947, the Philippines and India signed a Treaty of Friendship to strengthen and perpetuate their friendly relations.
Soon after, the Philippine Legation was established in New Delhi which was later elevated to an Embassy. However, due to foreign policy differences as a result of the bipolar alliance structure of the Cold War, the development of bilateral relations was stunted.
It was only in 1976 that relations between the two countries started to normalize when Mr. Aditya Birla, one of India's successful industrialists, met with then President Ferdinand E. Marcos to explore possibilities of setting up joint ventures in the Philippines.
This resulted in the establishment of Indo-Philippine Textile Mills, Inc. (Indo-Phil), then the largest Indian investment in the country. Indo-Phil currently employs 2,000 Filipino workers and supplies 40 percent of Philippine domestic demand for yarn.
In Oct. 2007, President Gloria Macapagal Arroyo undertook a State Visit to India where she presided over several events in Mumbai, New Delhi and Agra.
Business was the focus of her one-day stay in Mumbai, where she delivered a keynote address at a business meeting hosted by the Confederation of Indian Industries (CII).
The President also met with key officials of existing and potential investors in the Philippines at a lunch reception hosted by Philippine Honorary Consul General Mrs. Rajashree Birla, director of the Aditya Birla Group.
In New Delhi, President Arroyo was received by India's top leaders, including President Pratibha Patil and Prime Minister Manmohan Singh.
Topping the agenda of their meetings was the issue of cooperation between India and the Philippines in the pharmaceutical, IT and dairy industries; counter-terrorism; the development of alternative sources of energy; air services; and ASEAN-India cooperation.
The President also addressed business meetings in New Delhi and Mumbai that were co-sponsored by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Federation of Indian Chambers of Commerce and Industry (FICCI), and the Confederation of Indian Industries (CII).
Nine accords were signed between the two countries during President Arroyo?s 2007 visit, namely:
? Framework of Philippines-India Bilateral Relations
? Agreement to establish the Joint Commission on Bilateral Cooperation
? US$ 50-million credit line from the Export and Import Bank of India
? Philippines-India Joint Declaration for Cooperation to Combat International Terrorism, to include exchange of military personnel and students and joint military exercises in non-combat activities
? Memorandum of Agreement in the Field of Health and Medicine
? Agreement between the government-owned Philippine International Trading Corp. (PITC) and Indian State Trading Corp. on the purchase of US$ 35-million worth of quality but affordable medicines from India
? Memorandum of Agreement on Enhanced Cooperation in the Field of Renewable Energy
? Memorandum of Understanding on Cooperation between the Foreign Service Institutes of the Philippines and India
? Memorandum of Agreement on the Waiver of Visa Requirements for Holders of Diplomatic and Official Passports. (PNA)
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
