UAE, Philippines strengthen bilateral trade and investment ties

Minister of Foreign Trade Dr. Thain bin Ahmed Al Zeyoudi held a meeting with the Philippines Business Council in the UAE to explore expanding private sector relations between the two nations.

The meeting touched on ways to build and expand partnerships between the business communities and the private sector on both sides. During the meeting, Al Zeyoudi highlighted the growing economic partnership between the UAE and the Philippines, with non-oil trade growing to over $257.7 million in the first half of 2025. In 2024, the total volume of non-oil trade reached approximately $940 million.

The UAE is the Philippines’ top export market among Arab and African countries as well as its 17th largest globally, demonstrating the strong foundation on which both nations can further expand collaboration.

"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," Dr. Al Zeyoudi stated. 

With a significant Filipino diaspora residing in the UAE, working primarily in sectors such as construction, healthcare, and hospitality, the meeting also aimed to explore how these communities can further contribute to mutual prosperity from the growing economic ties.

The meeting follows the agreement of a bilateral Comprehensive Economic Partnership Agreement (CEPA) last July, aimed at enhancing trade cooperation and investment opportunities.

The Comprehensive Economic Partnership Agreement is expected to mitigate trade barriers, boost investment flows, and open new avenues for trade, investment and collaboration in key sectors including agriculture, financial services, and electrical equipment. The UAE-Philippines CEPA represents a significant addition to the UAE’s global trade program. The CEPA is forecast to increase the UAE’s GDP by US$2.4bn and increase exports to the Philippines to US$7.62 billion by 2032.