UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi met with the Philippines Business Council in the UAE to explore deeper collaboration between the two countries’ private sectors, building on the landmark Comprehensive Economic Partnership Agreement (CEPA) signed last July.
The discussions focused on expanding ties between business communities, identifying opportunities, and tackling any hurdles faced by Filipino enterprises in the UAE or Emirati firms operating in the Philippines. Dr. Al Zeyoudi noted that non-oil trade between the two nations reached about US$940 million in 2024, with a strong start this year at US$257.7 million in the first quarter alone. The UAE remains the Philippines’ top export market in the Arab and African region and its 17th largest globally.
“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 said.
The Philippines, one of ASEAN’s fastest-growing economies, posted a 5.6% GDP growth in 2024, underscoring its role as a logistics and manufacturing hub. With a large Filipino community in the UAE contributing to sectors such as construction, healthcare, and hospitality, both sides aim to harness this human capital for greater mutual benefit.
Under the CEPA, both countries expect reduced trade barriers, increased investment flows, and expanded cooperation in sectors including agriculture, financial services, and electrical equipment. Projections indicate the deal could add US$2.4 billion to the UAE’s GDP and raise its exports to the Philippines to US$7.62 billion by 2032.
