PH, UAE explore trade deal

The Philippines and the United Arab Emirates (UAE) will explore a possible comprehensive economic partnership agreement which will cover the usual elements of a free trade deal, according to the Department of Trade and Industry (DTI).

The department recently said the Philippines and the UAE committed to work on an Investment Promotion and Protection Agreement and a Comprehensive Economic Partnership Agreement (Cepa). On Friday, DTI outlined the potential opportunities under the Cepa.

“A potential FTA (free trade agreement) with the UAE may serve to provide for greater market access for goods and services, enhance investment flows, and ensure more opportunities for economic and technical cooperation,” DTI said in a statement on Friday.

Philippine interests in the deal would cover a wide range of products, including fresh and processed fruit, seafood, beverages, appliances, as well as automotive parts, said the DTI.

It will also involve ships and aircraft, textile and garments, as well as iron and steel and wood, the agency said. INQ