Department of Trade and Industry (DTI) Secretary Alfredo Pascual will be part of the delegation of President Ferdinand R. Marcos Jr. to Saudi Arabia this week to boost trade ties with Middle East countries.

Pascual, at the launching of DTI halal initiatives in Parañaque City, said Marcos will be leading a delegation Association of Southeast Asian Nations (ASEAN) – Gulf Cooperation Council (GCC) Summit in Riyadh on Oct.19.

“We will deepen engagement with the business community of the Kingdom of Saudi Arabia (KSA),” he said.

On the sidelines of the event, Pascual said they will be meeting businesses based in KSA and inviting them to invest in the Philippines.

“We always take the opportunity to promote our projects and programs wherever we go,” he added.

Last week, Pascual was able to bag an agreement and letters of intent from Australian firms during his trip to Adelaide for a joint ministerial meeting.

Aside from KSA, the Philippines is eyeing to conclude formal free trade agreement (FTA) negotiations with the United Arab Emirates called Comprehensive Economic Partnership Agreement (CEPA)

CEPA, once signed, will be the country’s first FTA in the Middle East.

“We are still discussing. The target is to do it this year,” Pascual’s response when asked about the target date of the signing of CEPA.

DTI is also eyeing the Middle East for its halal industry development as a market and partner for its initiatives. (PNA)