Manila, Aug. 20 -- The Philippines and Iceland have signed their first Air Services Agreement (ASA), paving the way for seven weekly flights between the two countries for both passenger and cargo services.

In a statement on Thursday, Acting Department of Transportation (DOTr) Secretary Giovanni Lopez said the agreement was signed following the successful Philippines-Iceland Air Negotiation Talks held from Tuesday to Wednesday in Reykjavik, Iceland.

It was signed by Department of Foreign Affairs (DFA) Assistant Secretary Edgar Badajos and Sigridur Eysteinsdottir, director and chief negotiator for ASA of Iceland's Ministry for Foreign Affairs.

Lopez said the agreement will serve as the foundation for future air transportation relations b...