The two countries signed a framework joint declaration following delegation-level discussions between Prime Minister Manmohan Singh and visiting President of the Philippines Gloria Macapagal Arroyo in the Capital on Friday.
In pursuance of the declaration, the two sides signed as many as nine agreements and MoUs as concrete measures to impart dynamism to the bilateral ties. The agreements and MoUs, while affirming the desire of both sides to exchange high level visits, established a joint commission, envisaged cooperation in a number of sectors including health and pharmaceuticals, information technology, mining, real estate, renewable energy, natural gas, biofuels, defence, security, transnational crimes, science and technology, agriculture and tourism.
The joint commission, which is meant to periodically review progress in building closer and stronger ties, will be co-chaired by respective foreign ministers.
In order to give initial momentum to enhancing trade ties, India extended a concessional credit line of $15 million which would be part of the $100 million credit line already extended by Delhi to ASEAN countries.
