Philippines and Dubai businesses are exploring partnerships to boost two-way trade and investments ahead of the signing of the Comprehensive Economic Cooperation Agreement (CEPA).

Among the initial deals between the country and the United Arab Emirates is the memorandum of understanding (MOU) signed by the Philippine Chamber of Commerce and Industry (PCCI) and Dubai Chamber of Commerce in Taguig City on Tuesday.

The MOU will facilitate collaboration to foster development and diversification of commercial exchanges and economic cooperation.

“Even before the agreement has been signed and has entered into force, the private sector from both sides are already actively working on deals, on the commercial engagement side. That is very important,” Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said on the sidelines of Dubai Chambers’ business mission event here.

During the event, PCCI president Enunina Mangio and Dubai Chambers vice president for International Relations Sector Salem Al Shamsi, who signed the MOU for their respective business groups, also expressed their optimism about the signing of CEPA, the country’s first free trade agreement with a Middle East country.

“We are optimistic that the proposed Philippines-UAE free trade agreement will unlock wider market access, enhanced export opportunities and greater investment flows for both economies,” Mangio said.

Dubai Chambers will work with PCCI in bringing a Filipino business mission to Dubai in the first quarter of 2026.

“We are pleased to strengthen our cooperation with the Philippine Chamber of Commerce and Industry through the signing of a new memorandum of understanding… It sets the foundation for future joint initiatives and knowledge exchange that will contribute to a more supportive business environment in both markets,” Al Shamsi said.

“Dubai Chamber of Commerce is dedicated to empowering the Philippine business community to leverage Dubai as a gateway for global expansion,” he added.

Al Shamsi said Emirati state-owned firm Masdar will also bring its delegation to the Philippines early next year.

In January 2025, the Department of Energy and Masdar forged an Implementation Agreement to roll out the latter’s USD15-billion investment commitments in the Philippines.

Aside from Masdar, large Emirati firms that have presence in the Philippines are Dubai Ports World, Arowana and Aster DM Healthcare.

Dubai Chambers brought 17 companies in the sectors of food and beverages, agriculture, automotive, construction, electronics, hospitality, human resources and services, industrial lubricants, investment, and perfume retail during its business mission here.

These companies had business-to-business networking with PCCI member-enterprises. (PNA)