The country’s economic delegation, which attended the signing of the Philippines–United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), met with the Abu Dhabi National Oil Company (ADNOC) on Monday to discuss opportunities to deepen cooperation under the landmark trade deal, further strengthening a vital international energy alliance.

In a statement on Wednesday, the Department of Trade and Industry (DTI) said the discussions highlighted how CEPA expands market access for goods and services, enhances investment inflows, and creates more opportunities for Filipinos, particularly in the downstream oil and gas sector.

The meeting was attended by Trade and Industry Secretary Cristina A. Roque and Finance Secretary Frederick D. Go, alongside UAE Minister of Industry and Advanced Technology and ADNOC Chairman H.E. Sultan Ahmed Al Jaber. Talks also explored potential avenues to expand ADNOC’s presence in the Philippines, with a view to enhancing the country’s energy security.

The engagement comes as the Philippines remains heavily reliant on imported refined petroleum products to meet rising domestic demand driven by rapid urbanization and sustained economic growth.

Secretary Roque emphasized that the Philippines is “ready and open” to major foreign energy players like ADNOC, citing Republic Act No. 8479, or the Downstream Oil Industry Deregulation Act, which allows 100 percent foreign ownership in oil refining and distribution.

The Philippine delegation also highlighted recent policy reforms aimed at attracting global partners, including the CREATE MORE Act, which provides enhanced fiscal incentives such as income tax holidays and value-added tax exemptions on imported capital equipment.

In addition, reforms allowing foreign investors to lease private land for up to 99 years have further liberalized the country’s investment climate.

These initiatives are reinforced by key bilateral agreements, including the Investment Promotion and Protection Agreement and the implementation of CEPA.

“Our engagement with ADNOC is part of the Philippines’ continuous efforts to secure a reliable, affordable, and competitive energy supply. Through the Philippines–UAE CEPA, we seek to build long-term partnerships with UAE companies that will strengthen energy security and expand opportunities for Filipino workers and businesses,” Secretary Go said.

ADNOC already has a presence in the Philippine energy landscape through its logistics arm, which supports the country’s first liquefied natural gas (LNG) import terminal in Batangas.

While the company has previously participated in spot tendering with local firms such as First Gen and San Miguel, the Philippine government is now seeking to formalize longer-term, aggregated supply contracts.

The meeting concluded with both sides expressing optimism that the discussions would lead to the successful realization of ADNOC’s investment plans and deeper economic ties between the Philippines and the UAE.