First-ever GBF ASEAN highlights Dubai as economic role model for RCEP countries

First-ever GBF ASEAN highlights Dubai as economic role model for RCEP countries

DUBAI, 8th December, 2021 (WAM) -- Regional Comprehensive Economic Partnership (RCEP) countries are rewiring supply chains and creating new trade opportunities, according to industry experts speaking earlier today at the first-ever Global Business Forum (GBF) ASEAN in Dubai.

Organised by Dubai Chamber in partnership with Expo 2020 Dubai, the two-day forum explores investment prospects emerging across ASEAN markets, new avenues of UAE-ASEAN economic cooperation, as well as trade synergies and bilateral business opportunities.

Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the first day of GBF ASEAN featured a session, which was joined by Ramon Lopez, Secretary of the Department of Trade and Industry of the Philippines; Mishal Kanoo, Chairman of The Kanoo Group; and Prof. Romano Prodi, President of the Italy-ASEAN Association.

"The negative impact of COVID-19 on the economic cycle is undeniable," Ramon Lopez noted. "However, recent news about the new Omicron variant seem to be less impactful. We are moving forward with reopening the economy and spearheading recovery in the Philippines. The country reopened its borders to tourists on 1st December of this year, and we believe having the Regional Comprehensive Economic Partnership (RCEP) is