UAE signs CEPA with Philippines as bilateral trade tops $940m

The agreement was signed during an official ceremony witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Philippines President Ferdinand R Marcos Jr, marking what both sides described as a transformative step in bilateral relations.

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.

He 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 Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and Cristina Aldeguer-Roque, Philippines Secretary of Trade and Industry, on the sidelines of Abu Dhabi Sustainability Week.

UAE and Philippines trade deal

Under the agreement, the two countries will reduce tariffs and unnecessary barriers to trade, boost bilateral investment flows, and create opportunities in key sectors including electrical equipment, financial services, agriculture, and precious metals.

The deal is also expected to strengthen private-sector collaboration, build more resilient supply chains, facilitate greater people-to-people knowledge transfer, and empower small and medium-sized enterprises to expand their global operations.

The UAE–Philippines CEPA adds to the UAE’s expanding global trade programme and opens a new chapter in a long-standing economic partnership between the two countries.

Bilateral non-oil trade totalled $940m (AED3.5bn) in 2024 and surpassed $853.7m in the first nine months of 2025, reflecting a 22.4 per cent year-on-year increase.

The UAE is the Philippines’ top export market among Arab and African countries and its 17th largest trade partner globally.

Overall, the CEPA is forecast to increase the UAE’s GDP by $2.4bn by 2032.

The agreement forms part of the UAE’s wider CEPA programme, a central pillar of its foreign trade strategy, which aims to increase non-oil foreign trade to $1.1tn by 2031.

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

With 32 agreements concluded and 14 having entered into force, the CEPA programme underscores the UAE’s commitment to open, rules-based trade as a driver of economic growth, diversification, and expanded opportunities for UAE businesses in high-growth global markets.