President Ferdinand Marcos Jr. on Tuesday called on the smaller countries to have regional cooperation in addressing complex geopolitical challenges worldwide.

The Chief Executive made the remarks as New Zealand's Deputy Prime Minister and Minister of Foreign Affairs Winston Peters on Tuesday paid a courtesy call on Marcos at Malacañang.

Peters made the courtesy call to the Chief Executive after the visit of Prime Minister Christopher Luxon to the Philippines in April, where both Luxon and Marcos expressed concerns about the escalating tensions in the South China Sea.

"(Your) new Prime Minister (was) here with us just a few weeks ago and at which time, as we agreed on many things, one of which was that the situation in our part of the world, requires that... some… the smaller countries get together and have a response and joint positioning, when it comes to these geopolitical issues, these complicated geopolitical issues," Marcos said.

"But then we spoke a great deal also about other areas such as agriculture… trade, and possible investment in your expansions for some of the operations of… going on in New Zealand," Marcos added.

The discussions between Marcos and Peters encompassed various areas of mutual interest, ranging from geopolitics to trade and investment opportunities.

Marcos emphasized the potential for collaboration in sectors such as agriculture, trade, and investment, indicating a shared commitment to enhancing economic cooperation between the two nations.

"I am happy that you're able to come here, and during the time that you're here, I hope that you'll be able to be in touch with some of our officials and also those in the private sector to develop some of these ideas that we spoke about with the Prime Minister," Marcos said.

In response, Deputy Prime Minister Winston Peters expressed gratitude for the warm reception and echoed Marcos's sentiments regarding the importance of constructive dialogue and collaboration.

"Mr. President, thank you very much for your warm welcome and the Prime Minister for the very productive talks," Peters remarked, emphasizing the productive nature of the discussions held between the two leaders.

Formal diplomatic ties between the Philippines and New Zealand were forged on 6 July 1966.

In the previous year, New Zealand stood as the Philippines' 28th trading ally among 230 partners, with the total trade volume reaching $495.37 million.

Additionally, New Zealand held the position of the Philippines' 38th destination for exports and the 24th source for imports. However, the Philippines incurred a trade deficit of $361.94 million with New Zealand.