UAE, Philippines discuss ways to boost trade and investment ties

August 13, 2025 / 10:02 PM

Sharjah 24 – WAM: Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with the Philippines Business Council in the UAE to discuss the expansion of private sector relations between the two countries. The meeting follows the signing of a Comprehensive Economic Partnership Agreement (CEPA) in July 2025, designed to deepen trade and investment collaboration.

Focus on private sector partnerships

Discussions focused on building partnerships between business communities on both sides. Dr Al Zeyoudi highlighted the strong economic relationship between the UAE and the Philippines, pointing out that non-oil trade reached approximately US$940 million in 2024. The upward trend continued into 2025, with Q1 figures reaching US$257.7 million.

The UAE remains the Philippines’ top export destination in the Arab and African regions and ranks as its 17th largest trading partner globally.

Commitment to ASEAN and beyond

Describing the Philippines as a key partner in the ASEAN region, Dr Al Zeyoudi stated:

"Our discussions today aim to explore private sector opportunities, identify areas for greater collaboration, and address challenges faced by Filipino and Emirati businesses alike."

The Philippines, one of ASEAN’s fastest-growing economies, recorded a 5.6% growth rate in 2024, positioning it as a vital logistics and manufacturing hub in the region.

Role of the Filipino community in the UAE

The meeting also explored how the Filipino diaspora—active in sectors like construction, healthcare, and hospitality—can contribute further to economic cooperation and shared prosperity.

CEPA to drive future growth

The UAE-Philippines CEPA is expected to significantly reduce trade barriers, encourage investment, and promote cooperation in critical sectors such as agriculture, financial services, and electronics.

Projections show the CEPA will boost the UAE’s GDP by US$2.4 billion and increase exports to the Philippines to US$7.62 billion by 2032, making it a pivotal component of the UAE’s broader global trade strategy.