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

Modi: We’ll Hunt Them Down

The Prime Minister thanked nations that extended support to India in the aftermath of the terror attack…reports Asian Lite News In his first address after the horrific terror attack in Pahalgam, Jammu

Moscow Steps Up Afghan Diplomacy

Russia sees a potential economic partner in the Taliban authorities, who praised Moscow for scrapping the “terrorism” label last week…reports Asian Lite News Russia has announced that it will elevate the Afghan

World leaders condemn Kashmir terror attack 

Strong messages of condemnation of the terror attack came from leaders in different parts of the world including the US, Russia, UAE, Israel, Singapore, France, Sri Lanka and Iran  World leaders strongly

India downgrades ties with Pakistan 

The decision — which also included the downgrading of diplomatic ties with Pakistan — came after a meeting of the Cabinet Committee on Security (CCS), chaired by the PM   India on

Sindh Lawyers Lead Protests Against Canal Plan 

The protests, which have been ongoing for weeks, have gathered significant attention from various sectors of Sindh’s civil society, including nationalist parties, farmers, writers, and members of the legal community.  Judicial activities
Go toTop

Don't Miss

UAE Braces For Severe Weather Conditions

The decision to cancel events and tourist activities will be

Golden Jubilee Race Night to mark National Day

The Dubai Racing Club announced that it will organise a