UAE-Philippines trade talks to enter third round

Unsplash/Jayson Lagman

• Final deal in October
• Focus on market access
• $1.5bn imports from UAE

The next round of trade negotiations between the UAE and the Philippines will take place next month, with a final deal expected to be signed in October.

Beyond lower tariffs and reduced barriers to trade, the UAE-Philippines comprehensive economic partnership agreement (Cepa) is expected to drive capital flows by opening avenues for new investments and joint ventures.

Talks on the Cepa began in December last year and a further meeting was held between the two countries in May. September’s meeting will take place in the UAE before the fourth and final round of talks in Manila, according to Philippines trade secretary Allan Gepty.

---

---

“We will focus on market access negotiation, and will continue to work on the text-based negotiations,” Gepty was quoted as saying by the Philippine Daily Enquirer.

The UAE is the Philippines’ second-largest trade partner in the Middle East and Africa after Saudi Arabia, accounting for about 30 percent of its total trade.

Data from the Philippine Statistics Authority showed total trade between the two countries reached nearly $2 billion in 2023. 

• UAE and Philippines kick off Cepa talks to expand trade
• Riyadh to host first GCC-Asean investment summit
• Southeast Asian investors flocking to Gulf to deploy capital

Philippine exports to the UAE were valued at $342 million, while the country’s imports from the UAE exceeded $1.5 billion.

The UAE boasts one of the largest Filipino communities outside of the Philippines.

At around 700,000 individuals, Filipinos make up almost 7 percent of the UAE’s total population. 

Dubai is home to around 450,000 Filipinos, making up just over 21 percent of the emirate’s population.

The UAE has signed 11 agreements with countries across the world so far since launching its Cepa programme in September 2021.