The United Arab Emirates and the Philippines are boosting private sector cooperation following the bilateral agreement Comprehensive Economic Partnership Agreement (CEPA) in July, a deal designed to ease trade and increase investment across key industries.
UAE Minister of Foreign Trade His Excellency Dr. Thani bin Ahmed Al Zeyoudi met with the Philippines Business Council – Dubai and Northern Emirates to discuss strengthening partnerships between companies in both countries.
“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 Dr. Al Zeyoudi said through WAM. “Our discussions today aim to explore private sector opportunities, identify areas for greater collaboration, and address any challenges faced by Philippines businesses operating in the UAE or by their Emirati counterparts operating in the Philippine market.”
Enhancing trade and investment opportunities
Under CEPA, both countries aim to enhance cooperation in agriculture, manufacturing, financial services, and electrical equipment. The agreement is also expected to lift trade barriers and encourage more investment flow.
The UAE remains the Philippines’ top export market in the Arab and African regions and ranks 17th globally.
According to reports, non-oil trade between the UAE and the Philippines reached US$940 million in 2024 and continued to grow in 2025, with US$257.7 million recorded in the first quarter alone.
Economic projections indicate the UAE’s GDP could grow by US$2.4 billion under CEPA, with exports to the Philippines expected to reach US$7.62 billion by 2032.
In 2024, the Philippines’ economy grew by 5.6%,the second-fastest pace among ASEAN’s 10 member states, which has a combined GDP of US$4.13 trillion.
With a large Filipino community in the UAE working in sectors such as construction, healthcare, and hospitality, officials said these workers could also contribute to the economic growth expected from the agreement.
