Abu dhabi: 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 was signed during an official ceremony attended by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Philippines President His Excellency Ferdinand R Marcos Jr. The CEPA is set to provide a transformative step in bilateral relations and spark a new era of economic opportunity.
According to Emirates News Agency, UAE President Sheikh Mohamed bin Zayed emphasized the flourishing relationship between the UAE and the Philippines, underscored by a mutual vision to broaden cooperation in ways that serve the mutual interests of both nations. He expressed confidence that the CEPA would result in significant progress in bilateral cooperation and contribute to shared development goals. The signing of the agreement underscores the UAE's commitment to building global partnerships that foster economic growth and long-term opportunities.
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 aims to reduce tariffs and eliminate unnecessary barriers to trade, increase bilateral investment flows, and create opportunities in sectors such as electrical equipment, financial services, agriculture, and precious metals. It will also enhance private-sector collaboration, strengthen supply chains, and empower SMEs to expand their global operations.
The UAE-Philippines CEPA represents a significant addition to the UAE's global trade programme and marks a new chapter in the long history of economic cooperation between the two countries. Bilateral non-oil trade reached US$940 million in 2024 and exceeded US$853.7 million in the first nine months of 2025, marking a 22.4 percent year-on-year increase. The UAE is the Philippines' top export market among Arab and African countries and its 17th largest trade partner globally. The CEPA is expected to boost the UAE's GDP by US$2.4 billion by 2032.
The CEPA programme is a central component of the UAE's foreign trade strategy, 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, a 14 percent year-on-year increase. With 32 agreements concluded and 14 having entered into force, the CEPA programme reflects the UAE's dedication to open, rules-based trade that drives economic growth and diversification while expanding opportunities for UAE businesses in high-growth markets worldwide.