The United Arab Emirates and the Republic of the Philippines have taken a significant step in strengthening bilateral relations with the signing of a Comprehensive Economic Partnership Agreement, marking a new phase of economic cooperation between the two countries.
The agreement was 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, underscoring the strategic importance of the partnership. The deal aims to unlock new trade and investment opportunities while reinforcing long-standing economic ties.
His Highness Sheikh Mohamed bin Zayed said the relationship between the UAE and the Philippines continues to grow, driven by a shared vision to expand cooperation in ways that benefit both nations. He expressed confidence that the agreement would advance bilateral collaboration and support shared development goals, while reflecting the UAE’s commitment to building global partnerships that promote sustainable growth.
The CEPA was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Her Excellency Cristina Aldeguer-Roque, Philippines Secretary of Trade and Industry, on the sidelines of Abu Dhabi Sustainability Week.
Under the agreement, tariffs and trade barriers will be reduced, investment flows encouraged, and opportunities created across key sectors including electrical equipment, agriculture, financial services, and precious metals. The deal is also expected to strengthen supply chains, boost private sector collaboration, and support small and medium-sized enterprises in expanding internationally.
Bilateral non-oil trade reached US$940 million in 2024 and rose 22.4 percent year on year in the first nine months of 2025. The agreement is forecast to add US$2.4 billion to the UAE’s GDP by 2032, reinforcing its role in the country’s broader trade and diversification strategy.
News Source: Emirates News Agency
