PH, UAE to ink first historic free trade deal for country’s investment, relation

Free trade agreement, Comprehensive Economic Partnership Agreement (CEPA) is about to be signed between the Philippines and the United Arab Emirates between Jan. 11 and 14 in Abu Dhabi, marking the first ever trade trade agreement between the Philippines and a Middle East country.

“Ang CEPA ang kauna-unahang free trade agreement ng Pilipinas sa isang bansa sa Middle East na naglalayong palawakin ang market access ng ating bayan sa gitnang silangan,” Communications Undersecretary Claire Castro said.

Special Envoy for Trade and Investment to the United Arab Emirates (UAE) Ma. Anna Kathryna Yu-Pimentel described the ‘historical step’ of CEPA in the country’s trade and investment in the Middle East. 

In her statement on Jan. 11, Yu-Pimentel highlighted the agreement’s bestowed trust between Philippines’ Marcos administration and UAE.

“CEPA reflects the depth of trust and cooperation between the Marcos administration and the UAE government,” she said. 

This milestone, for UAE Ambassador to the Philippines Mohamed Alqataam Alzaabi, will benefit in boosting trade and investment that covers ‘trade in goods and services, investments, small and medium enterprises, digitalization, customs cooperation, governance, and sustainability.’

Therefore, Palace announced President Ferdinand Marcos Jr.’s travel to Abu Dhabi, UAE on Jan. 12 to witness the signing of CEPA between two countries along with his attendance in the Abu Dhabi Sustainability Week.

Invited by UAE President Mohammed bin Zayed Al Nahyan, leaders across the world including Marcos Jr. will join in the discussion on energy, water, food and environment sustainability, alongside defense cooperation.