Filipina official: "Economic partnership agreement" The expected with the UAE inaugurates a new stage of strategic cooperation

Manila on May 29/ WAM/ Anna Katrina Yu Biminttel, the special envoy of the President of the Philippines to the UAE for Trade and Investment Affairs, confirmed that the Philippines are open and ready to expand its commercial and investment partnerships with the UAE, noting that the expected signature of the comprehensive economic partnership agreement “CEPA” between the two countries next month will be a historical station in bilateral relations, and paves the way for a new stage of cooperation Strategic economic.
This came in her speech at the opening of the work of the economic forum organized by the Dubai Chamber of Commerce in the context of the commercial mission that led it within the “New Prospects for External Expansion” initiative between May 25 and 27 in the Philippine capital, Manila.

In her speech, she reviewed the growing march of relations between the two countries, stressing that bilateral cooperation is witnessing a remarkable prosperity and pointed to the celebration of the fifty years of diplomatic relations between the two countries in 2024, stressing the Filipino leadership’s keenness to strengthen relations with the UAE.
She emphasized that the upcoming free trade agreement will be the first of its kind for the Philippines with a country in the Middle East region, stressing that it will contribute to enhancing trade and investment flows and expanding the opportunities for the arrival of Philippine products to the UAE and the region.
It shed light on the indicators of the increasing cooperation between the two countries, noting that the volume of non -oil bilateral trade amounted to $ 1.08 billion in 2023, while the UAE ranked seventeenth among the Philippine commercial partners, as well as being the largest Gulf investor in the country.
Biminttel explained that the Philippines received more than 33 thousand visitors from the UAE during 2023, while more than 301 thousand Filipino traveled to the UAE in the same year.
For her part, Enonina Mangio, head of the Philippine Chamber of Commerce and Industry, confirmed that economic relations between the two countries are witnessing an accelerated development, praising the efforts made by Dubai Chambers to enhance cooperation with the Philippine business community.
And considered that the memorandum of understanding that was signed with the Dubai World Chamber during the meeting represents a vital strategic framework that paves the way for real commercial and investment partnerships between the two sides.
She referred to the Chamber Network, which includes more than 35 thousand Filipino companies, confirming their willingness to link these companies to their Emirati counterparts in the renewable energy sectors, innovation, agriculture, health care, infrastructure, and digital economy.
Mangio called for exploring the opportunities for expansion in the Emirati market, especially in the fields of halal products, tropical fruits, and high -end consumption goods.
The Dubai Chamber of Commerce reviewed during the forum the advantages of the emirate as a global investment center with an advanced infrastructure, a flexible organizational environment, fast digital government measures, and a strategic geographical location.
She pointed out that Dubai’s economy recorded a growth of 3.1% during the first nine months of 2024, while the UAE acquired 41% of the total commodity exports in the Middle East during the same year.
She explained that Dubai includes more than 27 free zones that allow foreign ownership by 100%, while its ports and airports are a logistical gate linking investors to more than two billion people within four hours of flight, and 6 billion people within 8 hours of flight.
It touched on the results of the digital transformation in Dubai, and its contribution to the emirate exporting many indicators of global economic performance.
The Dubai Chamber of Commerce confirmed the support of the expansion of Emirati companies, noting that there are 35 international offices for Dubai rooms around the world, including 13 offices in Asia.
It is noteworthy that the delegation of the Dubai Chamber of Commerce participating in the Manila tour includes companies from vital sectors that include agriculture, hospitality, food industries, construction and human resources.

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