UAE Minister of Foreign Trade, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, has held a meeting with the Philippines Business Council in UAE, to explore expanding private sector relations between the two nations.
The meeting follows the agreement of a bilateral Comprehensive Economic Partnership Agreement (CEPA), aimed at enhancing trade cooperation and investment opportunities. It touched on ways to build and expand partnerships between the business communities and the private sector on both sides.
During the meeting, HE Al Zeyoudi highlighted the growing economic partnership between the UAE and the Philippines, noting that the total volume of non-oil trade reached approximately $940 million in 2024. Growth has continued in 2025, with non-oil trade reaching $257.7 million in the first quarter.
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.
Dr. Thani bin Ahmed Al Zeyoudi UAE Minister of State Foreign Trade
“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. 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.”
The Philippines is one of the fastest-growing economies in the ASEAN bloc of countries and a key logistics and manufacturing hub. In 2024, the economy grew by 5.6 percent, the second-fastest growing economy in the ASEAN region, which the world’s fourth-largest economic bloc, boasting a combined GDP of $4.13 trillion.
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 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 $2.4bn and increase exports to the Philippines to $7.62 billion by 2032.
The Comprehensive Economic Partnership Agreement, which was agreed earlier this year, 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.
