UAE, Philippines expand cooperation

The UAE and the Philippines have signed key agreements in several new areas of cooperation, including in culture, energy transition, AI, and diplomacy, during President Marcos’ working visit to the UAE this week.

In a joint statement, the two countries lauded the progress made in negotiations for a Comprehensive Economic Partnership Agreement, highlighting its potential to unlock economic benefits and further cement bilateral ties.

The agreements also included legal Cooperation, development of government activities, visa waiver for diplomatic passport holders, and investment cooperation.

The statement said, "The leaders acknowledged the significant progress made in the negotiations of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, and highlighted its potential to unlock economic benefits for both nations and their people. Both sides stressed the importance of concluding the agreement at the earliest opportunity, reflecting their shared commitment to advancing mutual prosperity and strengthening economic ties."

The Philippines expressed interest in joining the UAE-Brazil initiative on culture-based climate action.

President Ferdinand “Bongbong” Marcos Jr. met with UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on November 26.

The countries celebrated 50 years of diplomatic ties in August. 

Filipino nationals make up 6.8 per cent of the UAE's total population, approximately 700,000 individuals.

In 2022, they signed an agreement on mutual promotion and protection of investments. 

In the first half of 2023 saw non-oil trade increase to $500 million, a growth of 19.4 percent compared to the same period in 2022. Total non-oil trade between the two countries in 2022 reached $1.9 billion, double the amount over the last two years.

The UAE is the Philippines' second largest trade partner in the Middle East and Africa, accounting for approximately 30 percent of the Philippines' total trade with the region.