UAE, Philippines sign joint statement to bolster economic and trade ties at Expo 2020 Dubai

UAE, Philippines sign joint statement to bolster economic and trade ties at Expo 2020 Dubai

WAM: The United Arab Emirates and Philippines are bolstering economic ties with the signing of a Joint Statement on the Proposed Philippines-UAE Comprehensive and Economic Partnership Agreement (CEPA).

Both sides have agreed to launch the negotiations for a future CEPA that will strengthen trade, enhance investment flows, remove unnecessary barriers to trade, and create new business opportunities. Further, the UAE and the Philippines are headed towards unprecedented economic relations as the two countries concluded negotiations for the Investment Promotion and Protection Agreement (IPPA).

Ahmed Ali Al Sayegh, Minister of State, and Ramon Lopez, Secretary of Philippines Department of Trade and Industry (DTI), recognised the signing of the start of negotiations for the CEPA and committed towards the eventual signing of the IPPA.