By Justine Irish D. Tabile, Reporter

THE PENDING Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) will create a framework that will allow the Philippines to secure more investments from the UAE’s sovereign wealth funds, an official of the Department of Trade and Industry said.

This as the Philippines-UAE CEPA is expected to be signed next month.

“This will be historic in the sense that it will be our first FTA (free trade agreement) with a Middle Eastern country,” the President’s Special Envoy to the UAE for Trade and Investment Ma. Anna Kathryna Yu-Pimentel said.

Even before the FTA is signed, Trade Undersecretary Ceferino S. Rodolfo said that the UAE’s sovereign wealth funds and private sector have already been investing heavily in private equities.

“Those are the ones that are investing in the Philippines,” he said on the sidelines of the Doing Business with the Philippines Forum of the Philippine Chamber of Commerce and Industry (PCCI).

While the UAE sovereign wealth funds can already invest in the Philippines, Mr. Rodolfo said the CEPA will be important as it will provide the framework on how the Philippines can receive investments from these funds.

“I think for Dubai, they place a high importance on the CEPA as a way of also unraveling the potential for more investments, particularly from the sovereign wealth funds,” he added.

Data from the Global SWF showed that the sovereign wealth funds (SWF) managed by the UAE reached $2.39 trillion as of May 2025.

Mr. Rodolfo said that the Philippines hopes to attract UAE investments in renewable energy, infrastructure, logistics, digital infrastructure, and high-tech agriculture through the FTA.

A delegation consisting of 17 companies from Dubai visited the Philippines on Tuesday to explore potential partnerships with local companies.

These companies are in the areas of agriculture, automotive, construction, human resources and service, hospitality, food and beverages, industrial lubricants, and perfume.

“CEPA will provide the framework (for these investments) through these missions, and we already have an investment protection agreement with them, so all of the things are in place,” Mr. Rodolfo said.

Mr. Rodolfo said that the Philippines-UAE CEPA would also be the country’s first FTA with a Gulf Cooperation Council (GCC) country.

“So, very important also would be the access that we can get through Dubai to the other GCC countries and onwards towards Africa,” he said.

“The unique thing with the UAE CEPA is that even before the agreement has been signed and has entered into force, the private sector from both sides is already actively working on deals on the commercial engagement side,” he added.

Dubai Chamber of Commerce (Dubai Chambers) Vice-President for International Relations Salem Al Shamsi said that they are already thinking ahead on how Dubai and the Philippines can benefit from the CEPA. They are already organizing a Philippine business delegation that will go to Dubai next year.

He said the CEPA is anticipated to boost bilateral trade and provide opportunities for Dubai companies to invest in the Philippines. In the past four years, he said investments from Dubai to the Philippines amounted to $193 million.

Among high-potential Philippine exports to Dubai include leather, car parts, fertilizers, flat-rolled iron or steel, organic chemicals, and flooring materials.

Dubai Chambers also sees tourism, agri-industry, telecommunications, logistics, and healthcare as promising sectors for UAE firms.

On Tuesday, the PCCI and Dubai Chambers signed a memorandum of understanding (MOU) aimed at strengthening bilateral trade relations and exploring new areas of collaboration.

“This MOU transcends formality, creating concrete pathways for trade collaboration, investment opportunities, and joint ventures. It serves as our strategic framework for deeper economic partnership,” said PCCI President Enunina V. Mangio.

“Through PCCI’s extensive network of over 35,000 enterprises countrywide, we are positioned to connect businesses across priority sectors such as renewable energy, innovation, agribusiness, infrastructure, healthcare, and technology startups,” she added.

According to Ms. Mangio, the Philippines’ top exports to the UAE are electrical equipment, machinery, food products, and steel. The country’s top imports from the UAE include mineral fuels, plastics, vehicles, and metals.

“The UAE presents promising opportunities for Filipino products, particularly halal goods, tropical fruits, garments, and premium consumer items,” she said.

“We are optimistic that the proposed Philippines-UAE FTA will unlock wider market access, enhanced export opportunities, and greater investment flows for both economies,” she added.