The Market Monitor Minding the Nation's Business
President Ferdinand R. Marcos Jr. leaves for the United Arab Emirates today for a working visit, Malacañang announced on Thursday.
President Marcos’ visit is upon the invitation of UAE President Sheikh Mohamed bin Zayed Al Nahyan.
The Chief Executive will participate in the Abu Dhabi Sustainability Week, slated from January 11 to 15, where leaders from government, business, and society will discuss steps to advance global sustainability.
The President will join other heads of state and government in discussing issues related to energy, water, financial matters, food and the environment, according to Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro.
President Marcos is also scheduled to attend the signing of two important agreements between the Philippines and the UAE, namely the Comprehensive Economic Partnership Agreement (CEPA) and the Memorandum of Understanding on Defense Cooperation.
Castro said the CEPA is the Philippines’ first free trade agreement with a country from the Middle East that aims to expand market access in the region.
Meanwhile, the Memorandum of Understanding on Defense Cooperation will serve as a solid foundation for cooperation with the UAE to develop the Philippines’ defense technologies, according to Castro.
“Buo ang paniniwala ni Pangulong Marcos Jr. na magiging makabuluhan at kapaki-pakinabang para sa sambayanang Pilipino ang kanyang papalapit na pagbisita sa Abu Dhabi,” Castro said in a press briefing. PND