The UAE and Philippines are expanding trade and investment ties, building on a CEPA deal expected to boost GDP and exports.
DUBAI: The UAE is strengthening its economic relationship with the Philippines, with a renewed push to expand private sector cooperation following the signing of a Comprehensive Economic Partnership Agreement (CEPA) last July.
Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi met with the Philippines Business Council in the UAE to explore new avenues for collaboration, investment, and trade. He noted that the UAE is already the Philippines’ largest export market in the Arab and African regions and its 17th largest worldwide. Non-oil trade between the two countries reached US$940 million in 2024, with US$257.7 million recorded in the first quarter of 2025.
“The Philippines is a key trading partner for the UAE in the ASEAN region, and we are committed to fostering stronger ties at all levels,” Dr. Al Zeyoudi said. Discussions covered opportunities for private sector partnerships and strategies to address operational challenges faced by businesses in both markets.
The Philippines, one of ASEAN’s fastest-growing economies, recorded 5.6% GDP growth in 2024 and is a major hub for logistics and manufacturing. With a large Filipino community in the UAE contributing to sectors such as construction, healthcare, and hospitality, both sides see scope for deeper people-to-people and economic links.
The CEPA is expected to reduce trade barriers, enhance investment flows, and open opportunities in agriculture, financial services, and electrical equipment. Forecasts suggest the deal could add US$2.4 billion to the UAE’s GDP and raise exports to the Philippines to US$7.62 billion by 2032.
