September 12, 2023
1 min read

UAE, Philippines Explore Trade, Investment Ties

The two sides focused on the importance of joint work through the private sector by benefiting from the chambers of commerce and industry in the two countries, as well as joint and local business councils…reports Asian Lite News

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, today received a high-level delegation from the Philippines at the headquarters of the Ministry of Economy in Dubai.

The delegation included Benjamin Diokno, Secretary of Finance; Amenah Pangandaman, Secretary of Budget and Management; Arsenio Balisacan, Secretary of the National Economic and Development Authority; Francisco G. Dakila, Jr., Deputy Governor of the Central Bank of the Philippines; Rosalia V. de Leon, National Treasurer; and Alfonso Ferdinand A. Ver, Ambassador of the Philippines to the UAE, in addition to several officials.

During the meeting, the two sides discussed avenues of enhancing trade and investment relations, highlighting the latest updates of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which began after the two sides announced the beginning of talks during February 2022, with the aim of enhancing investment flows, facilitating intra-trade movement, and creating new opportunities for business communities in the two countries.

They also reviewed developments related to boosting bilateral relation and ways to develop joint economic projects across sectors of mutual interest, such as clean energy, artificial intelligence, transportation and logistics, as well as financial and banking services.

The two sides focused on the importance of joint work through the private sector by benefiting from the chambers of commerce and industry in the two countries, as well as joint and local business councils.

Non-oil intra-trade between the UAE and the Philippines continued to flourish in the first half of 2023, recording US$ 506.1 million, an increase of 19.4 percent compared to the same period in 2022, while intra-non-oil trade in 2022 totalled over US$ 1.850 billion, up from US$ 830.3 million and US$ 715.6 million in 2021 and 2020, respectively.

ALSO READ-DEWA, Masdar Ink Dh5.5B Solar Deal

Previous Story

Al Maktoum Solar Park Targets 6.4M Tonnes Carbon Cuts

Next Story

India, UK announce Infrastructure Financing Bridge

Latest from -Top News

India invites Rishi Sunak to its AI summit in 2026

India to host world’s first Global South AI summit in 2026, with Ashwini Vaishnaw inviting Rishi Sunak to join global talks on responsible, inclusive artificial intelligence. India’s Union Minister for Electronics and

Kerala CM, Bahrain Deputy PM discuss boosting ties

Chief Minister Pinarayi Vijayan’s Bahrain visit deepens Kerala’s engagement with the Gulf, focusing on trade, investment, and diaspora welfare as both sides reaffirm shared interests in development and cultural exchange. Kerala Chief

Kerala CM begins Gulf tour

Kerala CM Pinarayi Vijayan begins Gulf tour in Bahrain, engaging expatriate community and promoting welfare initiatives for NRKs, strengthening diaspora ties and showcasing Kerala’s development achievements….reports Asian Lite News Kerala Chief Minister

Delhi Dismisses Trump’s Oil Claim

India’s foreign ministry says it is “not aware” of a phone call in which Donald Trump claimed Narendra Modi agreed to halt Russian oil purchases…reports Asian Lite News India’s foreign ministry has

Kerala CM Vijayan Begins Gulf Tour

Vijayan’s Middle East tour underwent a revision after the Ministry of External Affairs declined permission for his planned visit to Saudi Arabia….reports Asian Lite News Kerala Chief Minister Pinarayi Vijayan arrived in
Go toTop

Don't Miss

UAE submits three proposals backing IMO’s strategic reforms

The United Arab Emirates has submitted three proposals to the

After BrahMos, Philippines keen to buy aircraft from India

Philippines considers the West Philippines Sea as its Exclusive Economic