Thani Al Zeyoudi: "The Philippines is an important trading partner for the UAE... and there is a shared commitment to providing more opportunities for the private sector on both sides and addressing any challenges that companies may face in the markets of both countries."

Abu Dhabi-   His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, held a meeting with the Philippine Business Council in the country to discuss mechanisms for stimulating trade and investment flows under the umbrella of the Comprehensive Economic Partnership Agreement signed between the two countries last July.

The meeting addressed ways to build and expand partnerships between the business communities and private sectors of both countries. During the meeting, His Excellency Al Zeyoudi highlighted the growing economic ties between the UAE and the Philippines, noting that the total value of non-oil trade reached $940 million in 2024. This growth continued into 2025, with trade reaching $257.7 million in the first quarter. The UAE is the Philippines' largest export market among Arab and African countries, and its seventeenth largest globally, demonstrating the strong foundation that allows both countries to expand their economic cooperation and partnership.

His Excellency Dr. Al Zeyoudi said: “The Philippines is a key trading partner for the UAE within the promising growth ASEAN region, and we share a common commitment to continue strengthening relations at all levels. We are also keen to address any challenges that may face Filipino companies operating in the UAE, or their Emirati counterparts operating in the Philippine market.”

The Philippines is one of the fastest-growing economies in the Association of Southeast Asian Nations (ASEAN) and a major logistics and manufacturing hub. In 2024, its economy grew by 5.6%, making it the second-fastest-growing economy in ASEAN. ASEAN is the world's fourth-largest economic bloc, with a combined GDP of $4.13 trillion.

With a large Filipino community in the UAE, working mainly in vital sectors such as construction, healthcare and hospitality, the meeting also aimed to explore ways to further enhance this community’s contribution to mutual growth through strengthening economic ties.

Upon its entry into force, the UAE-Philippines Comprehensive Economic Partnership Agreement (CEPA) is expected to stimulate trade and investment flows and open new avenues for partnerships in key sectors, including agriculture, financial services, and electrical equipment. The agreement represents a significant addition to the UAE’s plans to expand its non-oil foreign trade. It is projected to contribute $2.4 billion to the UAE’s GDP and increase the value of exports to the Philippines to $7.62 billion by 2032.

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