The UAE and the Philippines have signed a landmark agreement on mutual cooperation. Find out what this means for you.
By Jojo Dass
DUBAI: Overseas Filipinos are upbeat the Memorandum of Understanding (MOU) between the Philippines and United Arab Emirates (UAE), signed recently in Manila, would yield better prospects in areas ranging from investments to security.
The MOU will “further improve bilateral relations by signing more agreements,” said Ambassador Constancio R. Vingno, Jr. in a phone interview from Abu Dhabi.
It will allow the UAE and the Philippines to “discuss all aspects of cooperation,” he said.
Speaking on matters of investments, Eric Elnar, the Philippines’ commercial attaché to the UAE, explained that the MOU is a “precursor” to a Joint Trade Committee (JTC) which will work on the specifics of investment agreements.
“The MOU is the umbrella agreement,” Elnar said . “We can negotiate toward a trade agreement like (for instance) giving preferential treatment for our products coming to the UAE,” he added.
Elnar said the MOU, which resulted from a prior political consultation, “opens the door” to countless opportunities and possibilities.
Other government entities like the Department of Agriculture as well as Labor and Employment may likewise enter into their respective joint bodies with their UAE counterparts, Elnar said.
The joint committee was set up following an inaugural political consultation attended by Philippine Foreign Affairs Undersecretary for Policy, Enrique A. Manalo and Ahmad Abdulrahman Al Jarman, UAE Foreign Affairs Assistant Minister for Political Affairs. Also present was Vingno.
The MOU, described as a “significant milestone in the 37-year diplomatic relations between the Philippines and the UAE,” is geared toward strengthening the cooperation of both countries in various fields such as commerce, culture, economy, judiciary and security, was signed in the presence of Philippine Foreign Affairs Secretary Perfecto R. Yasay, Jr.
The inaugural consultation came on the heels of a meeting between Yasay and UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed bin Sultan Al Nahyan on the sidelines of the 71st session of the United Nations General Assembly in October last year, during which the two officials agreed to explore ways to further develop bilateral relations through the joint committee.
Business sector
Meantime, Filipino business groups in Abu Dhabi and Dubai are upbeat about the MOU, saying they will be working hand in hand with Philippine and UAE government representatives to see it through.
Agnes Marelid, Philippine Business Council Abu-Dhabi membership coordinator, said what comes to mind is presenting propositions to the UAE government to invest in the Philippines’ power and energy sector as well as infrastructure. As well she said, “PBC-Abu Dhabi, in partnership with the Department of Trade and Industry (DTI) in the Philippines and the Abu Dhabi Chamber of Commerce might want to consider bringing more and more UAE investors to the Philippines through trade tours and exhibitions or road shows.
“In the same way, trade exhibitions and business matching done in UAE is important for Philippine business owners to reach out to UAE buyers.”
For his part, Ken Peralta, Philippine Business Council – Dubai and the Northern Emirates director, said respective Philippine government agencies should encourage the UAE government and Emiratis to look at the Philippines as a safe haven for investment and tourism. “There is so much to offer even more than our ASEAN neighbours since the presence and contribution of Filipinos in the UAE and the Middle East as a whole is greatly acknowledged,” he said.
