The UAE and the Philippines are looking for mechanisms to stimulate commercial and investment flows under the umbrella of the partnership agreement
Abu Dhabi, August 13 / WAM / His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, held a meeting with the Philippine Business Council in the country to discuss mechanisms for stimulating commercial and investment flows under the umbrella of the comprehensive economic partnership agreement signed between the two countries last July.
The meeting touched on ways to build and expand partnerships between the business community and the private sector on both sides.
During the meeting, Al -Zyoudi highlighted the developments of the growing economic relations between the UAE and the Philippines, noting that the total value of non -oil trade amounted to 940 million dollars in 2024, and this growth continued in 2025, bringing the value of trade exchanges to 257.7 million dollars in the first quarter, and the UAE is the largest export market for the Philippines between Arab and African countries, and the seventeenth market for the largest globally, which shows the solid basis that allows The two countries have the scope of cooperation and economic partnership between them.
His Excellency said, “The Philippines is a major commercial partner for the UAE within the most promising ASEAN region, and we collect a joint commitment to continuing to strengthen relations at all levels, as we are keen to address any challenges that the Philippine companies operating in the UAE, or its Emirati counterpart working in the Philippine market, and the Philippines is one of the fastest growing economies in the Association of Southeast Asian countries (ASEAN), and a major position For logistical and manufacturing services, in 2024, its economy grew by 5.6%, becoming the second fastest growing economy in the ASEAN region, and the ASEAN Association is the fourth largest economic bloc in the world, with a total GDP 4.13 trillion dollars.
With the presence of a large Filipina community in the UAE, they work mainly in vital sectors such as construction, health care and hospitality, the meeting also aimed to discuss ways to enhance the contribution of this community more in achieving mutual growth through the consolidation of economic relations, and when it comes into effect, it is expected that the comprehensive economic partnership agreement between the UAE and the Philippines will stimulate trade and investment flows, and open new horizons to build partnerships in major sectors, including Agriculture, financial services and electrical equipment.
The agreement represents an important addition to plans to expand the non -oil foreign trade of the UAE, and it is expected to contribute to increasing the GDP of the UAE by $ 2.4 billion, and that the value of exports to the Philippines increases to 7.62 billion dollars by 2032.
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