UAE, Philippines begin new chapter of trade, investment cooperation with signing of CEPA

The United Arab Emirates and the Republic of the Philippines formalised a new chapter in their economic relations today with the signing of a Comprehensive Economic Partnership Agreement (CEPA).

The agreement – signed during an official ceremony witnessed by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Philippines President His Excellency Ferdinand R Marcos Jr – is set to provide a transformative step in bilateral relations and help fuel a new era of economic opportunity.

His Highness Sheikh Mohamed bin Zayed said the relationship between the UAE and the Philippines continues to flourish, underpinned by a shared vision to broaden cooperation in ways that serve the mutual interests of both countries.

He expressed confidence that the Comprehensive Economic Partnership Agreement would represent a major step forward in bilateral cooperation, contributing to both countries’ shared development goals. His Highness noted that the signing of the agreement reflects the UAE’s ongoing commitment to building global partnerships that foster economic growth, prosperity, and long-term opportunities for future generations.

The CEPA was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and Her Excellency Cristina Aldeguer-Roque, Philippines Secretary of Trade and Industry, on the sidelines of Abu Dhabi Sustainability Week.

The agreement will reduce tariffs and unnecessary barriers to trade, boost bilateral investment flows, and create opportunities in vital sectors such as electrical equipment, financial services, agriculture, and precious metals.

The deal will also help to boost private-sector collaboration, build more resilient supply chains, facilitate greater people-to-people knowledge transfer, and empower SMEs to expand their global operations.

The UAE-Philippines CEPA represents a significant addition to the UAE’s global trade programme and opens a new chapter in the country’s long history of economic cooperation.

Bilateral non-oil trade totalled US$940 million (AED3.5 billion) in 2024, and surpassed US$853.7 million in the first nine months of 2025, reflecting a 22.4 percent year-on-year increase.

The UAE is the Philippines’ top export market among Arab and African countries, as well as its 17th largest trade partner globally. Overall, the CEPA is forecast to increase the UAE’s GDP by US$2.4 billion by 2032.

The CEPA programme is a key pillar of the UAE’s foreign trade approach, which aims to increase non-oil foreign trade to US$1.1 trillion by 2031.

In 2024, the programme contributed to the UAE’s record non-oil trade figure of US$810 billion, marking a 14 percent year-on-year increase.

With 32 agreements concluded, and 14 having entered into force, the CEPA programme reflects the UAE’s commitment to open, rules-based trade to drive economic growth and diversification, and expand opportunities for UAE businesses with high-growth markets around the world.