The UAE and the Philippines took a major step forward in strengthening trade relations by signing a new economic partnership on Tuesday. This economic partnership aims to boost investment, reduce trade barriers, and open fresh opportunities for businesses in both nations.
The ceremony took place during Abu Dhabi Sustainability Week, where officials from both countries celebrated the historic agreement. The leaders emphasized that this economic partnership reflects their commitment to long-term growth and mutual prosperity.
The agreement encourages collaboration between the private sectors, supports small and medium-sized enterprises, and promotes knowledge transfer across key industries. Additionally, it focuses on vital sectors such as agriculture, financial services, electrical equipment, and precious metals. By doing so, the economic partnership is set to expand global operations for businesses in both countries.
Officials explained that reducing tariffs and eliminating unnecessary trade obstacles will accelerate bilateral trade. The agreement also aims to strengthen supply chains, ensuring more resilient and efficient commercial networks. Furthermore, the economic partnership provides a framework for ongoing cooperation and consultation between business communities.
Recent data shows that bilateral non-oil trade between the UAE and the Philippines reached $940 million in 2024 and exceeded $853 million during the first nine months of 2025. This growth highlights the increasing importance of collaboration between the two nations and reinforces the significance of the economic partnership.
The program is expected to contribute around $2.4 billion to the UAE’s GDP by 2032. Moreover, the Comprehensive Economic Partnership Agreement complements the UAE’s broader trade strategy, which seeks to raise non-oil foreign trade to $1.1 trillion by 2031.
To date, the UAE has signed 32 trade agreements, 14 of which are currently in force. This demonstrates the country’s commitment to open and rules-based trade while expanding opportunities in high-growth markets worldwide.
Leaders from both nations expressed confidence that this economic partnership will strengthen bilateral relations, create new jobs, and enable sustainable development for future generations. They emphasized that long-term collaboration and mutual trust remain the foundation of the UAE-Philippines trade relationship.
Overall, the economic partnership represents a landmark achievement that not only enhances trade and investment flows but also sets a model for international cooperation in the region. By fostering stronger ties, both countries aim to achieve sustainable growth and shared prosperity.
