Ambassador Ver Lauds Government's Partnership with PH Food Businesses in Shaping Taste of GCC Region

DUBAI 20 February 2023 - Philippine Ambassador to the United Arab Emirates, H.E. Alfonso A. Ver, welcomed in Dubai a delegation of 24 Filipino companies in the food, cosmetic and personal care, and consolidator sectors, taking part in an ongoing Business Matching Mission throughout the Gulf Cooperation Council (GCC), on the last leg of their roadshow in the UAE on 17 February 2023 after having visited Bahrain, Kuwait, and Qatar. Organized by the Department of Trade and Industry (DTI) and its Philippine Trade and Investment Centre in Dubai (PTIC-Dubai) under Trade Attaché Charmaine Mignon Yalong, in cooperation with the Philippine Embassies in these countries, this program culminates at the Gulfood event, the world's most extensive annual food and beverage sourcing event from 20 to 24 February at the Dubai World Trade Center, which will have a Philippine Pavilion consisting of the above-cited 24 Filipino companies. The mission is led by DTI Assistant Secretary Glenn Peñaranda, CITEM Executive Director Edward Fereira and the Export Marketing Bureau (EMB) OIC and Assistant Director Bianca Pearl R. Sykimte.

Addressing the participants to the business matching mission, Ambassador Ver cited the sweeping changes in the region towards a knowledge-based economy, sustainable development, innovation and technology. He stressed how the significant presence of Filipinos in the UAE, the third largest expatriate population in the country, has been the catalyst for close relations between the Philippines.

Ambassador Ver said, "Over the last year, the Philippines and the UAE Governments have made significant strides towards a more robust economic, trade and investment relations, with the signing of the PH-UAE Investment Protection and Promotion Agreement (IPPA), in June 2022. and creates an investment climate that will attract capital-intensive foreign investments and provide incentives between the two sides. This lays the groundwork for the private sector of both the Philippines and the UAE to fully engage and benefit through investments. Likewise, in February last year, the Philippines and the UAE signed a commitment to enter into a Comprehensive Economic Partnership Agreement (CEPA) that will strengthen trade, enhance investment flows, remove unnecessary barriers to trade, and create new business opportunities."

"I cannot stress enough that while we in Government are doing everything we can with the above-cited efforts, you, the Philippine private sector, are our vital partners in realizing the immense potential these framework agreements provide. In essence, we are opening the door, but we need you to enter. The actual business engagements are done by Philippine companies, by entrepreneurs like yourselves, that find foreign counterparts to create lucrative business partnerships. In this way, we are fulfilling both our important roles to help build the Philippine economy," the Ambassador said. END