The Philippines is eager to enhance its trade and business connections with the United Arab Emirates, as expressed by Ma. Anna Kathryna Yu-Pimentel, the Special Envoy for Trade and Investment.
Yu-Pimentel’s remarks were made during a forum titled “Doing Business with the Philippines,” held by Dubai Chambers on Tuesday, May 27, 2025, at Shangri-La The Fort. The event concluded with the signing of a memorandum of understanding aimed at strengthening commercial cooperation between Dubai Chambers and the Philippine Chamber of Commerce and Industry.
In her address to a gathering of high-ranking governmental and business representatives from both countries, Yu-Pimentel reaffirmed that the Marcos administration is dedicated to enhancing economic relations with the UAE through greater trade and investment efforts. “As the President’s Special Envoy to the UAE for Trade and Investment, I assure you that the Philippines is fully devoted to fostering stronger business ties with the UAE,” she stated to the attendees.
The forum saw participation from prominent figures including the UAE Ambassador to the Philippines, Mohamed Obaid Al Qataam Al Zaabi, Vice President of Dubai Chambers, Salem Al Shamsi, President of PCCI, Enunina Mangio, President of Maharlika Investment Corp., Rafael Consing Jr., Special Envoy Benito Techico, and Senator Aquilino Pimentel III.
Yu-Pimentel emphasized that this event is part of the ongoing progress following the celebration of 50 years of diplomatic relations between the Philippines and the UAE last year. “We marked a significant milestone last year, and today we advance with renewed optimism,” she remarked.
She also highlighted that the Philippines is on the brink of finalizing its first free trade agreement with a Middle Eastern nation — the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. “This will be a historic achievement for Philippine trade policy,” she stated, acknowledging the contributions of Trade Secretary Cristina Roque and DTI Undersecretary Allan Gepty.
Since her appointment as Special Envoy in June 2024, Yu-Pimentel has pointed out positive trends in the strengthening of bilateral economic relations. In 2023, non-oil trade between the two countries reached $1.08 billion, making the UAE the Philippines’ largest export market in the Gulf region and its 17th largest trading partner worldwide. From 2019 to 2023, the UAE’s investments in the Philippines exceeded $129 million. “This growth trajectory is expected to accelerate with the forthcoming CEPA signing,” she added.
Apart from trade, Yu-Pimentel mentioned the significant impact of tourism and migration. More than 33,000 Emiratis visited the Philippines in 2023, while over 301,000 Filipinos made the journey to the UAE. She also highlighted the importance of diplomatic and cultural exchanges, referencing the “soft diplomacy” initiatives led by First Lady Louise Araneta-Marcos. “The engagement of our leaders underscores the increasing trust and mutual respect that characterize this partnership,” she explained.
Yu-Pimentel further noted significant reciprocal visits by senior officials, including UAE Foreign Minister Sheikh Abdullah Bin Zayed Al Nahyan’s trip to Manila in June 2024 and President Ferdinand Marcos Jr.’s upcoming visit to the UAE later that year. These exchanges resulted in agreements in crucial areas such as energy, digital transformation, and legal cooperation. “We regard the UAE and its friendly citizens as one of our key allies in the region — trusted, respected, and always warmly welcomed,” she concluded.