Today: 7 May 2025
12 September 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 Strikes Terror Bases in Pakistan

‘Justice is served’, says Indian Army as Operation Sindoor unfolds In a significant military response to the deadly terror attack in Pahalgam that claimed 26 civilian lives, the Indian Army on Wednesday

UAE Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

India Rises, Africa Watches 

While struggling economies in Africa engulf themselves in ideological battles and take sides in the tariff battles, nations like India are placing their national interest first and navigating Global Trade challenges in

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of
Go toTop

Don't Miss

UAE, China Urge Humanitarian Ceasefire

The UAE and China have demanded the United Nations Security

Ellwood praises UAE’s ‘quiet leadership’ securing Mideast peace

As well as improving relations with Israel and Turkiye, Ellwood