The Philippines and the United Arab Emirates (UAE) are exploring potential collaboration and partnership in priority sectors including clean energy, infrastructure and health care.
In his bilateral trade meeting with the UAE officials led by Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and Minister of State Ahmed bin Ali Al Sayegh in Taguig last week, Trade Secretary Alfredo Pascual l also highlighted the Philippines pursuit of boosting its halal economy aimed to grow trade and investments with the Organization of Islamic Cooperation countries, which the UAE is a part of.
“We are encouraging UAE firms to explore the conducive business environment in the country as we envision to achieve mutual economic growth,” Pascual noting the bilateral non-oil trade increased by 19.4 percent in the first half of 2023, reaching $500 million compared to the same period in 2022.
At the Philippines and UAE Forum and Networking Pascual in the same venue announced the upcoming visit of President Ferdinand R. Marcos Jr. to the UAE in December aims to strengthen ties between the two nations.
Also during the forum, the officials witnessed the signing of two memoranda of understanding between the Federation of UAE Chambers of Commerce and Industry and the Philippine Chamber of Commerce and Industry following a strengthened desire of the private sector to pursue business opportunities in the country.
