Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met the Philippines Business Council in Abu Dhabi to advance private‑sector collaboration following their July signing of a Comprehensive Economic Partnership Agreement (CEPA). The talks aimed to forge new commercial links and lift investment and trade between the two nations, focusing on private business engagement.
Al Zeyoudi reported that non-oil trade between the UAE and the Philippines reached $940 million in 2024, with $257.7 million recorded in the first quarter of 2025. He noted the UAE remains the Philippines’ leading export destination within Arab and African markets and stands as its 17th-largest overall. He described the Philippines as a key ASEAN trading partner, emphasising the role of the CEPA in opening private‑sector opportunities and resolving operational challenges faced by businesses from both sides.
The Philippines grew at a rate of 5.6% in 2024, ranking it the second‑fastest‑growing economy in the ASEAN bloc, now the world’s fourth‑largest economic group with a combined GDP of $4.13 trillion.
Discussions also touched on the significant Filipino expatriate community in the UAE, particularly in sectors like construction, healthcare and hospitality, and how that demographic can further contribute to shared economic objectives.
The CEPA, agreed earlier this year, is expected to reduce trade barriers, stimulate investment flows and promote cooperation across sectors, including agriculture, financial services and electrical equipment. Projections suggest the agreement could boost UAE GDP by $2.4 billion and lift exports to the Philippines to $7.62 billion by 2032, reinforcing its status as a priority in the UAE’s trade expansion strategy.
