NextGen Day

MANILA, Philippines — DTI Assistant Secretary Allan Gepty said Thursday that the Department of Trade and Industry (DTI) hopes to complete the trade and investment agreement with the United Arab Emirates as soon as next year.

Gepty said the Comprehensive Economic Partnership Agreement (CEPA) with the UAE is the country’s free trade agreement (FTA) in the Middle East during a virtual news conference hosted by the Presidential Communications Operations Office’s Office of Global Media and Public Affairs.

This comes after the Philippines and the United Arab Emirates also expressed interest in pursuing the CEPA last month.

“This will be the platform through which we will be able to reach out to the Middle East’s large market, including the GCC (Gulf Cooperation Council),” Gepty explained.

He also stated that the Philippines hopes to use CEPA to make the UAE the country’s gateway to North Africa.

More Filipino brands will be expected in the UAE once CEPA is completed, according to the trade deal negotiator.

Gepty stated that the country hopes to stabilize commercial relations with the UAE through CEPA, particularly in terms of petroleum imports.

He stated that the two countries would now work on the deal’s terms of reference and negotiate which aspects will be included.

The Philippines and the United Arab Emirates will each conduct their own research and consultations with stakeholders.

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