DTI to conclude CEPA negotiations in 2023

THE Department of Trade and Industry (DTI) hopes to conclude Comprehensive Economic Partnership Agreement (CEPA) negotiations next year.

“The shortest possible time where, hopefully, we can conclude this, hopefully by next year if time resources and of course other factors would permit,” Trade Assistant Secretary Allan Gepty said in a virtual briefing on Thursday.

Last month, the Philippines and the United Arab Emirates (UAE) announced that they will start the official discussions for CEPA.

Gepty said the next step is to work on the terms of reference or the scoping paper.

“So, basically, we will have to negotiate what will be the elements that we will have to include in that Comprehensive Economic Partnership Agreement. And then in parallel, UAE and Philippines we will also have to conduct our respective studies,” he said.

“What would be the offensive interests that we will push in this agreement or the sectors that will benefit most and those other calculations that are very important in pursuing negotiation,” he added.

Gepty said both parties will also need to conduct a series of consultations with business organizations, civil society organizations, and farmers and producers to determine their respective sensitivities.

He said the UAE is ranked 17th among the country’s investment partners with total approved investments amounting to $13.24 million.

Once concluded, Gepty said that CEPA will help increase exports of goods to the UAE.

“On the aspect of goods, definitely there will be an enhancement in our exports particularly Philippine products in these countries. Primarily because UAE is one of the destinations of our OFWs (overseas Filipino workers). We have a high number of OFWs in the UAE and that means a market for our businesses,” he said.