The United Arab Emirates (UAE) and the Philippines are taking concrete steps to deepen their economic relationship through strategic initiatives aimed at expanding trade and investment opportunities.
Recently, the Philippine Business Council – Dubai and Northern Emirates (PBC-DNE) held a high-level dialogue with His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade. The discussions focused on strengthening support for the Filipino business community in the UAE and exploring new avenues for growth.
This meeting comes shortly after the signing of the Comprehensive Economic Partnership Agreement (CEPA) in July — a landmark bilateral deal designed to reduce trade barriers, encourage investment, and foster cooperation across key industries such as agriculture, financial services, and manufacturing.
During the meeting, Dr. Al Zeyoudi emphasized the importance of the Philippines in the UAE’s trade strategy for the ASEAN region.
“The Philippines is a key trading partner for the UAE in the growing ASEAN region, and we are committed to fostering stronger ties at all levels,” he said, as reported by WAM. “Our discussions today aim to explore private sector opportunities, identify areas for greater collaboration, and address any challenges faced by Philippine businesses operating in the UAE or by their Emirati counterparts in the Philippine market.”
The dialogue highlighted the mutual benefits of closer cooperation between the two countries’ private sectors and reaffirmed both nations’ commitment to creating a more connected, dynamic, and resilient trade relationship.
UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi shared an update from their official X platform:
Key Developments of the UAE- Philippines Trade and Investment Ties:
- Comprehensive Economic Partnership Agreement (CEPA): In July 2025, both nations signed the CEPA, marking a significant step in their economic collaboration. This agreement is designed to reduce trade barriers, facilitate investment flows, and open new avenues for cooperation in sectors such as agriculture, financial services, and electrical equipment.
- Trade Growth: In 2024, the non-oil trade volume between the UAE and the Philippines reached approximately US$940 million. The momentum continued into 2025, with Q1 non-oil trade totaling US$257.7 million. The UAE is the Philippines’ top export market among Arab and African countries and ranks as its 17th largest globally.
- Economic Impact: The CEPA is projected to increase the UAE’s GDP by US$2.4 billion and is expected to boost UAE exports to the Philippines to US$7.62 billion by 2032.
- Renewable Energy Collaboration: A landmark US$15 billion renewable energy agreement was signed in January 2025 between the Philippines and the UAE’s state-owned Masdar. This project aims to develop solar, wind, and battery energy storage systems, providing up to 1 gigawatt of clean energy by 2030, with plans to scale up to 10 gigawatts by 2035.
Read Also : UAE Strengthens Ties with Russia, May Host Trump-Putin Summit
Strategic Importance:
The Philippines is one of the fastest-growing economies in the ASEAN region, with a 5.6% growth in 2024, making it the second-fastest-growing in the region. ASEAN represents the world’s fourth-largest economic bloc with a combined GDP of US$4.13 trillion. The UAE’s engagement with the Philippines is part of its broader strategy to strengthen ties with ASEAN nations, fostering economic growth and regional stability.
The strengthened bilateral trade and investment ties between the UAE and the Philippines signify a promising future for both nations. Through strategic agreements like the CEPA and collaborative projects in renewable energy, they are paving the way for sustained economic growth and deeper regional integration.
Top Stories3 weeks ago
