Philippines Targets India for Nickel Exports and Expands Trade Relations
The Philippines aims to boost nickel exports to India for EV batteries, with ongoing trade agreement talks. A Preferential Trade Agreement (PTA) is being prioritized to enhance bilateral trade and cooperation, as India seeks stable raw material supplies for its burgeoning EV industry.
The Philippines is strategically looking at India as a crucial buyer of nickel for electric vehicle (EV) batteries amid current trade discussions. Foreign Affairs Secretary Enrique Manalo underscored the importance of realigning supply chains, given that 98% of the Philippines’ nickel exports presently go to China. As the country accounts for 11% of global nickel production, valued at $1.95 billion, this pivot helps reinforce its role in the lithium-ion battery supply chain.
The Philippines is tapping into India’s expanding EV sector by enhancing nickel trade and pursuing a Preferential Trade Agreement (PTA). With bilateral trade already on the rise and an evolving investment climate, both nations are poised to benefit from strengthened economic ties and collaboration in the battery manufacturing ecosystem.
Original Source: energy.economictimes.indiatimes.com
