UAE and Philippines Forge Economic Partnership with New Agreement

In a significant development highlighting the UAE's expanding economic influence in Asia, Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and Philippine President Ferdinand Marcos oversaw the signing of a comprehensive economic partnership agreement. This agreement marks a new chapter in trade and investment collaboration, deepening the bilateral relationship between the two nations.

Strengthening Economic Ties

Sheikh Mohammed bin Zayed noted that the UAE-Philippines relationship is evolving through a shared vision focused on mutual interests and sustainable growth. He expressed optimism that the agreement would serve as a transformative step in economic cooperation between the two countries. The agreement reflects the UAE's commitment to fostering effective international partnerships that promote prosperity and create opportunities for future generations.

Philippine President's Perspective

President Marcos welcomed the agreement, viewing it as a strategic advancement in economic collaboration. He reaffirmed the Philippines' dedication to implementing the agreement's provisions in alignment with common development objectives.

Focus on Key Sectors

The agreement, signed during Abu Dhabi Sustainability Week, aims to lower tariffs, eliminate trade barriers, and enhance bilateral investments, particularly in critical sectors such as electrical equipment, financial services, agriculture, and precious metals. It also seeks to support small and medium enterprises, improve supply chains, and facilitate knowledge transfer between the private sectors of both nations.

Trade Figures Indicating Strong Partnership

In 2024, non-oil trade between the UAE and the Philippines reached $940 million, with $853.7 million recorded in the first nine months of 2025, reflecting a robust annual growth rate of 22.4%. The UAE stands as the largest market for Philippine exports in the Arab and African regions and ranks seventeenth globally among its trade partners.

Part of a Broader UAE Economic Strategy

This agreement is integral to the UAE's broader economic partnership program, which aims to elevate non-oil trade to $1.1 trillion by 2031 and strengthen its position as a global hub for trade and investment.