CEPA Triggers New Private Sector Engagement
Following the July 2025 signing of the UAE Philippines CEPA Trade Deal (Comprehensive Economic Partnership Agreement) between the United Arab Emirates and the Philippines, both nations are moving quickly to boost private-sector collaboration. This landmark trade accord is set to deepen economic cooperation and open broader investment avenues across multiple industries.
In Dubai, Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, met with representatives from the Philippines Business Council to identify concrete ways to transform CEPA’s commitments into practical business initiatives. The meeting focused on fostering stronger links between companies in both countries and driving mutual growth.
“The Philippines is a key trading partner for the UAE Philippines CEPA trade deal in the growing ASEAN region, and we are committed to fostering stronger ties at all levels,” HE Dr. Al Zeyoudi stated. “Our discussions today aim to explore private sector opportunities, identify areas for greater collaboration, and address any challenges faced by Philippines businesses operating in the UAE or by their Emirati counterparts operating in the Philippine market.”
High-Level Philippine Delegation Highlights Commitment
A senior Philippine delegation attended the discussions, including:
- Finance Secretary Benjamin Diokno
- Budget Secretary Amenah Pangandaman
- NEDA Director-General Dr. Arsenio Balisacan
- BSP Deputy Governor Francisco Dakila Jr.
- National Treasurer Rosalia V. de Leon
- Ambassador Alfonso Ferdinand Ver
Their agenda revolved around implementing CEPA across priority sectors such as:
- Renewable and clean energy
- Artificial intelligence and emerging tech
- Transport and logistics
- Financial services and banking
These sectors were highlighted for their potential to generate fresh opportunities and long-term economic benefits for both nations.
Rising Non-Oil Trade Underlines Growth
Non-oil trade between the UAE and the Philippines has been showing strong growth. In the first half of 2023, bilateral non-oil trade jumped 19.4%, reaching US $500 million, compared to the same period the year before.
With CEPA now operational, both governments are prioritizing stronger private-sector participation, using business councils and chambers of commerce as platforms to accelerate partnerships.
Expanding Investment Pipeline
Several significant agreements are already reinforcing UAE Philippines CEPA trade deal–Philippines cooperation:
- November 2023 – UAE Ministry of Investment and the Philippine Department of Trade and Industry signed an MoU to develop large-scale data centers. UAE Philippines CEPA trade deal companies, including Edgnex Data Centres, are among the key investors.
- January 15, 2025 – Philippine Department of Energy, Board of Investments, and UAE’s Masdar finalized an Implementation Agreement for solar, wind, and battery storage projects, targeting 1 GW capacity by 2030 with a planned US $15 billion investment.
According to official Philippine data, the UAE ranked as the 18th largest trading partner in 2023, with PHP 376.71 million in approved investments. From January to September 2024, approved investments reached PHP 82.59 million, making the UAE Philippines CEPA trade deal the 25th largest investment source.
Key areas attracting investment interest include agribusiness, AI, infrastructure, renewable energy, IT services, and business process outsourcing.
CEPA Negotiation Timeline
- Dec 2021 – Proposal to initiate CEPA negotiations
- Feb 2022 – Signing of Joint Statement of Intent
- Dec 2023 – Agreement on Terms of Reference (TOR)
- May & July 2024 – Negotiation rounds conducted
The two countries initially aimed to finalize CEPA by the end of 2024, aligning with the 50th anniversary of diplomatic ties. The official signing took place in July 2025, paving the way for immediate private-sector collaboration.
Private Sector at the Core of Strategy
Both Dr. Al Zeyoudi and the Philippine delegation emphasized that the private sector will be the driving force behind this new phase of economic engagement. Through active involvement from business councils, trade chambers, and joint ventures, the plan is to ensure sustainable, high-impact growth beyond the scope of government agreements.
Outlook: Stronger Economic Partnership Ahead
With CEPA in place and major investment commitments underway, the UAE and the Philippines are on track to significantly upgrade their economic relationship:
- For the Philippines – Accelerated development, expanded infrastructure, and broader access to Middle Eastern markets.
- For the UAE – Diversified investment opportunities and a stronger foothold in Southeast Asia.
