THE Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) the country’s largest and most influential business group, welcomed the Philippines-UAE (United Arab Emirates) Comprehensive Economic Partnership Agreement (CEPA) that marked the 2-days visit of President Marcos from January 12 to January 14.
Victor Lim, Federation President, noted CEPA is the country’s first free trade agreement with any country in the Middle East and solidifies its years of strategic partnership in the region. It was signed on January 13, one day after the President’s arrival.
“By championing partnerships across trade, investment, digitalization, and sustainability, the CEPA unlocks unprecedented opportunity,” Lim said, as he called on all sectors to diversify and boost its exports to the Middle East other than manpower.
In a separate statement, Malacañang said a defense cooperation pact was also signed with Emirati officials.
The signing of the agreements formed part of the President’s itinerary where he also participated at the Abu Dhabi Sustainability Week (ADSW) focused on global sustainability and development and in meetings with members of the Overseas Filipino Workers (OFWs) community.
Lim also recognized the role played by Special Envoy to the United Arab Emirates Ma. Anna Kathryna Yu-Pimentel in ensuring the positive result of the visit.