FFCCCII pushes for expanded exports, stronger Middle East ties

The Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) has called for the expansion of Philippine exports and stronger economic relations with the Middle East following the signing of a free trade agreement between the Philippines and the United Arab Emirates (UAE).

In a statement, FFCCCII President Victor Lim welcomed the forging of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, describing it as a strategic milestone in their bilateral relations.

The FFCCCII urged the Philippines to strengthen and diversify its exports to the Middle East to fully maximize the benefits of the agreement.

“This historic first Philippine free trade agreement in the Middle East solidifies years of strategic engagement, transforming into a bilateral trade relationship," Lim said.

"By championing partnerships across trade, investment, digitalization, and sustainability, the CEPA unlocks unprecedented opportunity,” he added.

The CEPA, signed by President Ferdinand “Bongbong” Marcos Jr. and United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan, provides for reduced tariffs, improved market access for goods and services, increased investment flows, and new opportunities for Filipino professionals and service providers in the UAE.

The free trade deal is expected to generate jobs, lower consumer prices, and open up new economic opportunities for Filipinos.

“This achievement is precisely the kind of positive, forward-looking diplomacy that fuels sustainable Philippine economic development, creates prosperity, and tangibly benefits the lives of the Filipino people.

The FFCCCII stands ready to actively support efforts to harness the vast potential this new chapter presents for increased Philippines–Middle East trade and economic cooperation,” he added.—MCG, GMA Integrated News