BY TONY CHAVEZ
Dubai, UAE—Department of Trade and Industry (DTI) Secretary Cristina A. Roque leads a four-day official visit to the United Arab Emirates (UAE) from 03 to 05 October to advance the Philippines' trade and investment agenda in the Middle East region.
Focusing on strategic engagements that will enhance economic collaboration with the UAE and undertake high-level discussions on the Comprehensive Economic Partnership Agreement (CEPA), the official visit began with a meeting between Secretary Roque and H.E. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, to discuss on finalizing details of the CEPA.
“The Philippines is dedicated to solidifying its partnership with the UAE to drive economic growth and open new doors for Filipino entrepreneurs,” Secretary Roque shared. “The finalization of the CEPA will not only strengthen our bilateral trade but also set the foundation for long-term, mutually beneficial cooperation.”
The Philippines and the UAE have made significant progress in their CEPA negotiations. This is poised to enhance trade in goods and services, streamline cross-border investments, and promote economic collaboration. Secretary Roque’s dialogue with Minister Al Zeyoudi will be pivotal in facilitating the completion of this historic agreement, which will be the Philippines' first trade deal in the Middle East and with a Gulf Cooperation Council (GCC) member.
The CEPA negotiations were officially proposed on 08 December 2021, followed by the signing of a Joint Statement of Intent in February 2022. A Terms of Reference (TOR) was subsequently established in December 2023, while the first and second rounds of negotiations took place in May and July 2024, respectively.
Substantial progress has been made through targeted consultations and virtual meetings, all aimed at finalizing the negotiations by the end of 2024. This timeline is particularly significant as it coincides with the 50th anniversary of PH-UAE bilateral relations.
“The UAE is a vital partner in our goal to diversify trade relations and maximize the potential of our local businesses. Through this collaboration, we aim to tap into the UAE’s strategic position as a gateway to the broader Gulf region, creating a wealth of opportunities for Filipino businesses. The UAE government is also eager to quickly and aggressively invest in sectors such as infrastructure, railways, renewable energy, data centers/AI, real estate, and health. We also want to leverage on the UAE as strong partner for foreign investments in many key sectors of our economy,” the DTI chief emphasized.
Throughout the visit, Secretary Roque will promote priority investment sectors, including agribusiness, renewable energy, information technology, and tourism. The meeting with Minister Al Zeyoudi marks a crucial step in reinforcing Philippine-UAE economic relations and establishing pathways for sustainable trade growth.
Also joined by Ma. Anna Kathryna Yu-Pimentel, Special Envoy of the President to the UAE for Trade and Investments, Karen Santos, Special Envoy to the United Arab Emirates for Arts and Culture, Benito Techico, Special Envoy to the People’s Republic of China for Trade, Tourism, and Investment, and Ambassador Alfonso Ferdinand Ver, Ambassador of the Republic of the Philippines to the United Arab Emirates, the discussion sought to foster greater trade and investment opportunities between the Philippines and UAE in areas of mutual interest.
This official mission showcases the Philippine government's commitment to fostering inclusive and dynamic trade partnerships, advancing economic development, and furthering the nation’s global trade presence.
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