The United Arab Emirates and the Philippines have signed a landmark Comprehensive Economic Partnership Agreement (CEPA), marking a major step forward in strengthening bilateral economic ties between the two countries. The agreement aims to boost trade, investment, and long-term cooperation across key sectors.
The signing ceremony highlighted the growing strategic relationship between the UAE and the Philippines, with officials from both sides emphasizing shared goals of economic diversification and sustainable growth. National flags of both countries were displayed as representatives formally exchanged and signed the agreement documents.
Under the CEPA, tariffs on a wide range of goods will be reduced or eliminated, making it easier for businesses to access new markets. The agreement is expected to significantly increase bilateral trade volumes by improving market access for products such as food, electronics, energy-related goods, and manufactured items.
Beyond trade in goods, the agreement also covers services, investment, digital trade, and small and medium-sized enterprises. It is designed to create new opportunities for Filipino and Emirati companies, encourage private-sector collaboration, and attract foreign direct investment.
Officials noted that the CEPA will also support job creation and skills development, particularly benefiting the large Filipino workforce in the UAE while opening new pathways for business partnerships and technology exchange.
The agreement reflects the UAE’s broader strategy of expanding its global trade network and deepening ties with fast-growing Asian economies. For the Philippines, the deal strengthens access to Middle Eastern markets and reinforces its role as a key economic partner in the region.
With the signing completed, both countries are expected to move toward ratification and implementation in the coming months, paving the way for a new phase of economic cooperation and mutual growth.
