UAE and Philippines trade given push with Cepa signing

• Tariffs and trade barriers to be reduced
• Boost for private sector collaboration
• SMEs empowered to expand globally

The UAE and the Philippines have signed a comprehensive economic partnership agreement (Cepa) to increase bilateral trade and investment and support private sector collaboration.

The move represents a major step forward in bilateral cooperation and fosters economic growth, Sheikh Mohamed bin Zayed Al Nahyan said. The UAE president and his counterpart Ferdinand R Marcos Jr were present at the Cepa signing ceremony on the sidelines of Abu Dhabi Sustainability Week, Wam news agency reported.

The nations began free trade negotiations in February 2022 after finalising an investment promotion and protection agreement.

The Cepa will reduce tariffs and trade barriers, and create opportunities in sectors such as electrical equipment, financial services, agriculture and precious metals, a statement said.

It added that the deal will also help to boost private sector collaboration, build a resilient supply chain and empower SMEs to expand their global operations.

Bilateral non-oil trade was AED3.5 billion ($940 million) in 2024 and exceeded $854 million in the first nine months of 2025, a 22 percent year-on-year increase.

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

The Cepa is forecast to increase the UAE’s GDP by $2.4 billion by 2032, Wam said.

The Cepa programme is an important pillar of the UAE’s foreign trade strategy, which aims to increase non-oil foreign trade to $1.1 trillion by 2031.

In 2024 the scheme increased the Emirate’s non-oil trade to $810 billion, up 14 percent year on year.

The UAE has concluded 32 Cepas, including with India, Malaysia, Chad, Angola, Ukraine and New Zealand, with 14 already in force.