Chairman of Kadin Indonesia and Chair of ASEAN-BAC, Arsjad Rasjid initiated a meeting with President of the Philippines, Ferdinand Romualdez Marcos Jr and Chair of ASEAN-BAC Philippines, Joey MA. A. Concepcion III (5/9/2023). The meeting aims to discuss joint strategies to improve trade relations and seek new opportunities for economic cooperation to boost economic growth in both countries. According to data from the Indonesian Ministry of Foreign Affairs in 2022, the total value of Indonesia-Philippines bilateral trade was USD 14.39 billion. Indonesia's main export commodities to the Philippines are mineral fuels, vehicles and spare parts, and various processed foods.