PH Delegates Advances Philippines-UAE Economic Relations During Comprehensive Economic Partnership Agreement (CEPA) Negotiation
PH-UAE negotiations team during the 1st round of negotiations for the PH-UAE Comprehensive Economic Par5tnership Agreement (CEPA) held in Dubai on 06 to 08 May 2024. (Abu Dhabi PE Photo)
ABU DHABI 15 March 2024 – The Philippines and the United Arab Emirates (UAE) concluded the initial round of negotiations for the PH-UAE Comprehensive Economic Partnership Agreement (CEPA) on 08 May 2024. Trade Undersecretary Allan Gepty led the PH negotiation team, while the UAE side was led by H.E. Juma Alkait, Assistant Secretary for International Trade Affairs Sector of the Ministry of Economy.
The first negotiation round covered the following chapters that outlines the guidelines for the negotiations: Trade in Goods which aims to attain the highest degree of tariff liberalization for PH products of interest while safeguarding highly sensitive products; Rules of origin aiming to secure liberal rules of origin for PH products of interest so it will not be difficult for these products to be exported in the UAE; Customs Procedures and Trade Facilitation which aims to achieve more facilitative, transparent, and predictable procedures for conducting trade; Sanitary and Phytosanitary Measures which aims to establish a clear mechanism to address trade-related issues and timebound consultation to respond to and resolve SPS issues; Technical Barriers to Trade aims to ensure consistency with international standards and ensure that new measures are subject to adequate consultations; and Investments which aims to ensure the protection of PH businesses in the UAE and attract more investments from the UAE through promotion and facilitation.
CEPA, a bilateral free trade agreement (FTA), is envisioned to expand the flow of export goods and services to the UAE, generate more investments from UAE, and create more opportunities for professionals and service providers. The Philippines and the UAE also signed the Terms of Reference (TOR) of the PH-UAE CEPA last 02 December 2023; marking the initial step for the proposed bilateral free trade agreement between the two countries.
Given the large number of Filipino professionals and businesses in the UAE, CEPA is a most important FTA which the PH negotiations team aims to conclude within the year as PH-UAE celebrates its 50th anniversary of diplomatic relations. END
PH Ambassador to the UAE Alfonso A. Ver (seated 7th from right) with the Philippine negotiation team headed by Trade Undersecretary Allan Gepty (seated 7th from left) for the 1st round of negotiations for the PH-UAE Comprehensive Economic Partnership Agreement (CEPA) in Dubai, UAE. (Abu Dhabi PE Photo)
For more information, visit https://www.abudhabipe.dfa.gov.ph, https://www.facebook.com/PHinUAE/, https://twitter.com/PHinUAE or https://www.instagram.com/phinuae/.