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October 6, 2007

Arroyo visits India, calls for increased trade

Philippine President Gloria Arroyo on Thursday called for increased trade with India at the start of a three-day visit.

"We urge Indian companies to look eastwards. Currently the balance of trade is lopsided in India's favour," Arroyo said in a speech to the Confederation of Indian Industry (CII) in Mumbai, India's financial capital.

Making the first visit to India in a decade by a Philippine president, Arroyo said her country was sourcing cheaper medicines from India to boost its healthcare system.

"We are bullish on India," she said, adding that India was also "obligated to its neighbours."

The first day of the visit saw a trade agreement between New Delhi-based Panacea Biotec and the Family Vaccines and Speciality Clinics, the largest private sector vaccination centre chain across the Philippines.

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