Malaysia has set a target of doubling bilateral trade with the Philippines to USD 10 billion within two years, while pledging continued support for peace efforts in the southern Philippines ahead of parliamentary elections in the Bangsamoro region in September 2026.
The commitments emerged from the 9th Philippines-Malaysia Joint Commission Meeting (JCM) held in Manila and co-chaired by Philippine Foreign Affairs Secretary Ma Theresa Lazaro and her Malaysian counterpart Dato’ Seri Utama Mohamad bin Haji Hasan.
Hasan said bilateral trade reached USD 8.22 billion in 2025, while figures from January to May 2026 had already totalled USD 4.21 billion, a pace he described as encouraging.
“This is a good sign. I think we should look for USD 10 billion in trade for the next two years,” Hasan said, as reported by the Philippine News Agency.
“We should trade more, intra-ASEAN trade is our priority now, Madam Secretary,” he added.
“As close neighbours and ASEAN partners, Malaysia and the Philippines have an important role to play in ensuring that ASEAN remains united, resilient, competitive, and relevant.”
Malaysia backs Bangsamoro polls
Separately, Hasan reaffirmed Malaysia’s role as a third-party facilitator in the Mindanao peace process, a position it has held for years, ahead of parliamentary elections scheduled for 14 September in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
“As a third-party facilitator, Malaysia remains committed to supporting lasting peace, stability, and inclusive development in Mindanao,” he said.
He added that Kuala Lumpur was prepared to share its experience in the halal economy and Islamic finance to support the region’s economic development.
Both officials described the upcoming vote as a significant test for the region, characterising it as an important milestone in consolidating the peace process through democratic participation and inclusive development.
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Shared security concerns over the South China Sea
The two sides also addressed defence cooperation, citing growing coordination between their armed forces and the decade-old Trilateral Cooperative Arrangement with Indonesia, as well as commitments to expand intelligence sharing and joint efforts against transnational crime, including drug trafficking.
On regional security, Lazaro said the two countries voiced shared concerns over what she described as illegal and coercive actions infringing on the rights of coastal states in the South China Sea.
They also stressed the importance of restraint and adherence to international law, particularly the UN Convention on the Law of the Sea.
She noted Malaysia’s role as co-chair of ongoing negotiations for a regional Code of Conduct with China.
She remained optimistic that the talks could conclude within the year, provided the current momentum of monthly meetings was sustained.
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