The Philippines and the United Arab Emirates (UAE) agreed to expand trade and investment ties to boost economic cooperation.
UAE Minister of Investment Mohamed Hassan Alsuwaidi met with President Ferdinand Marcos Jr. in Malacañang on Feb. 7 to explore new opportunities.
Marcos Jr. welcomed the visit, saying it reaffirmed both nations’ commitment “to work together more closely than we have had in the past.”
Alsuwaidi praised Filipino nurses for their excellent patient care in the UAE and highlighted the deep ties between the two countries.
“After having discussions today, we really don’t understand why we haven’t historically invested more, and given the amount of opportunities we see, whether it’s in the infrastructure, whether it’s in industrial mining or telecommunication, data centers, renewables — the size of opportunities, healthcare, are tremendous,” he also said.
In 2023, the UAE ranked as the Philippines’ 18th largest trading partner. Approved UAE investments reached P376.71 million in 2023 and P82.59 million from January to September 2024.
Priority sectors for UAE investments include agribusiness, renewable energy, infrastructure, AI, IT, and business process management.IMT
