Minister Aziz was accompanied by a delegation of Malaysian businessmen from 66 companies in such sectors as rubber products, highway constructions, smart card and petrochemical products. These companies later in the day participated in the business matching session with their Filipino counterparts. Minister Aziz's last visit was on 8 March 2001 when she led a delegation of 47 Malaysian businessmen.

Minister Aziz reiterated the need for the ASEAN business community to fully utilize the preferential arrangements among member-companies provided for in goods, investment, services and ICT. They should also seek opportunities for collaboration between members of the Malaysian and Filipino private sector in the light of the full implementation of ASEAN Free Trade Area (AFTA) by the original six members of the ASEAN beginning 1 January 2003.

Minister Aziz urged Malaysian and Filipino companies to take advantage of the Bilateral Payments Arrangement for their trading activities. This arrangement will allow them to guarantee payments in domestic currency, eliminate credit and exchange risk and provide easier access to banking facilities. Furthermore, ASEAN private sector should cooperate to develop into ASEAN conglomerates capable of producing for the regional and global markets.

Selling Malaysia as a good place to invest in, Minister Aziz said the economy expanded by 3.5% in the first three quarters of 2002, with full-year growth estimated at 4-5%. Estimated to account for 30.4% of 2002 GDP, its manufacturing sector continued to provide the impetus to the growth of the Malaysian economy.

The Philippines is Malaysia's 16th largest export market, and 9th largest source of imports in 2002. From the Philippine perspective, Malaysia was the 8th largest source of imports and 7th largest export destination. Malaysia is also the second main source of foreign direct investments for the Philippines among ASEAN countries with cumulative approved investments amounting to US$157.8 million (P8.4 billion).