The second round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the Philippines and the United Arab Emirates is set to take place in July 2024.
Trade undersecretary Allan B. Gepty shared in an Inquirer report that the next negotiation will occur in Manila on the first week of July. Undersecretary Gepty will be leading the Philippine side of the talks.
Last May 4, 2024, a Stakeholders Consultation took place at the Philippine Consulate General in Dubai, wherein Undersecretary Gepty, His Excellency Alfonso Ver, Ambassador of the Philippines to the UAE; Honorable Marford Angeles, the Consul General of the Philippine Consulate General in Dubai; and Director General Rowel Barba of the Intellectual Property Office of the Philippines had a discourse with Overseas Filipinos especially in the business and professional groups.
There, he presented an overview of the PH-UAE CEPA. One of the highlights of his presentation would be the negotiating objectives to improve the bilateral partnership between the PH and the UAE. These are the following:
- To attain the highest degree of tariff liberalization for PH products of interest while safeguarding highly sensitive products.
- 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.
- Achieve more facilitative, transparent, and predictable procedures for conducting trade.
- Establish a clear mechanism to address trade-related issues and timebound consultation process to respond to and resolve SPS issues.
- Ensure consistency with international standards and ensure that new measures are subject to adequate consultations.
- Ensure the protection of PH businesses in the UAE. Attract more investments from the UAE through promotion and facilitation.
In summary, the upcoming negotiations for the Comprehensive Economic Partnership Agreement (CEPA) between the Philippines and the United Arab Emirates aim to enhance bilateral trade relations through measures such as tariff liberalization, rules of origin facilitation, and improved trade procedures. These efforts seek to benefit both nations by fostering greater transparency, resolving trade issues efficiently, and attracting investments to promote economic growth.
