UAE - Mubasher: The trade exchange between the UAE and the Philippines increased by 32% to AED 1.33 billion ($362 million) during the first five months of 2021.
The Philippine Department of Trade and Industry (PDTI), the implementing agency of the Philippines’ participation in Expo 2020, said the bilateral trade between the two countries includes AED 411 million ($112 million) exports and AED 918 million ($250 million) imports in the January-May period.
The PDTI expected that Expo 2020, set to open in October, would boost the trade exchanges between the Philippines and the UAE and the wider Middle East.
The PDTI Assistant Secretary for the Trade Promotions Group and PH Expo 2020 Dubai, Alternate Commissioner-General, Rosvi C. Gaetos, said: "Expo 2020 Dubai will act as a catalyst for the Philippines to penetrate the world’s fastest emerging markets in the Middle East, Africa, and South Asia, a region of more than 3.2 billion people, with a collective GDP of more than AED 24 trillion."
Meanwhile, Gaetos commented: "After Expo 2020 Dubai, the linkages created by business matching between Philippine exporters and foreign businesses will result to increased economic activities for the Philippines."
