THE PHILIPPINES is hoping to conclude negotiations for the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) by early November, the Department of Trade and Industry (DTI) said.
“We want to conclude negotiations by the end of October or first week of November,” DTI International Trade Group Undersecretary Allan B. Gepty told BusinessWorld via Viber.
The Philippines and the UAE are expected to hold the third round of negotiations for a CEPA on Oct. 21-25.
“Our focus there will be on market access negotiations and the remaining issues in the text,” Mr. Gepty said.
Meanwhile, the Philippine Exporters Confederation, Inc. said that the Philippines and the UAE are set to exchange their second requests and offers before the next round of negotiations.
Initially, the Philippines had asked to eliminate nearly 7,000 tariff lines, which account for $700 million or 99.94% of the country’s exports to the UAE.
In turn, the UAE asked for the elimination of 1,400 tariff lines, which account for almost $958 million, or 90.58%, of Philippine imports from the UAE.
Bianca Pearl R. Sykimte, director of the Trade department’s Export Marketing Bureau, said that the Philippines is likely to accept the UAE’s offer to eliminate 4,621 tariff lines, the trade in which was valued at $519 million.
“At the same time, the Philippines will reiterate its request to include key tariff lines initially excluded in the UAE’s initial offer,” she added.
The UAE is the country’s 18th biggest trading partner and top export market in the Gulf Cooperation Council. In 2023, trade between the two countries totaled $1.88 billion. — Justine Irish D. Tabile