Philippine-UAE free trade deal hailed as first in Manila’s Middle East ties

President Ferdinand Marcos Jr meeting United Arab Emirates President Sheikh Mohammed Zayed Al Nahyan on the sidelines of the summit marking Abu Dhabi Sustainability Week. - Presidential Communications Office

MANILA: The Philippines entered into its first free trade pact in the Middle East with the signing of a Comprehensive Economic Partnership Agreement (Cepa) with the United Arab Emirates (UAE) on Tuesday (Jan 13).

Under the agreement, hailed as a milestone in the country’s foreign economic policy, about 95 percent of Philippine exports to the UAE will enjoy preferential tariff treatment, helping manufacturers expand exports, scale up production, and generate more jobs at home.