The Philippines scored a major economic breakthrough Tuesday with the signing of its first-ever free trade agreement with a Middle Eastern country during President Ferdinand “Bongbong” Marcos Jr.’s working visit to the United Arab Emirates (UAE).
Marcos, alongside UAE President Sheikh Mohamed bin Zayed Al Nahyan, presided over the signing of the Comprehensive Economic Partnership Agreement (CEPA) at the Abu Dhabi Sustainability Week 2026 Summit. The deal was signed for the Philippines by Trade and Industry Secretary Christina Roque.
The CEPA slashes tariffs, expands market access, and strengthens two-way investments, while opening new opportunities for Filipino professionals and service providers in the Gulf. It covers digital trade, MSMEs, intellectual property, government procurement, competition policy, and sustainable development—key areas for long-term growth.
Export winners are expected to include bananas, pineapples, canned tuna, electronics, and machinery.
Trade between the Philippines and the UAE reached nearly US$1.83 billion in 2024, with Abu Dhabi accounting for almost 40% of Philippine exports to the Middle East. Early estimates show the CEPA could raise exports by 9.13%, generate consumer savings, and reinforce supply chains across the Gulf region.
Beyond goods, the agreement ensures a more predictable environment for Filipino firms, especially MSMEs, in sectors such as IT-BPM, tourism, healthcare, education, construction, and professional services.
The PH-UAE CEPA complements Manila’s trade deals with Japan, South Korea, the European Free Trade Association, and RCEP partners, strengthening the country’s role in global value chains.
Also present were First Lady Liza Araneta-Marcos, Foreign Affairs Secretary Ma. Theresa Lazaro, Finance Acting Secretary Frederick Go, and Special Envoy for Trade and Investment Kathryna Yu-Pimentel.
The signing was followed by a leaders’ meeting, the second between Marcos and Sheikh Mohamed since November 2024, underscoring a deepening economic and strategic partnership.