Dubai: Dubai Chamber of Commerce, one of the key institutions under Dubai Chambers, has successfully convened 180 bilateral business meetings in Manila. These meetings connected companies from Dubai with their counterparts in the Philippines, marking the initial phase of a strategic trade mission to Southeast Asia, which includes both the Philippines and Thailand. This initiative is part of the 'New Horizons' program aimed at promoting the international expansion of Dubai-based companies into emerging global markets.
According to Emirates News Agency, the trade mission to the Philippines included 17 private sector companies from Dubai, representing a wide spectrum of industries such as food and beverages, agriculture, automotive, construction, electronics, hospitality, human resources and services, industrial lubricants, investment, and perfume retail. Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, emphasized the chamber's dedication to fostering new trade pathways between Dubai and high-potential international markets, enhancing Dubai's standing as a global trade hub, and contributing to the sustained growth of its non-oil exports.
As part of the mission, the Dubai Chamber of Commerce hosted a business forum in Manila titled 'Doing Business with the Philippines.' This event was a collaborative effort with the UAE Embassy in Manila, the Philippine Chamber of Commerce and Industry, the Philippines Board of Investment, the Department of Trade and Industry (DTI) - Export Marketing Bureau, and the Consulate General of the Philippines in Dubai. The forum, attended by 314 participants, featured key remarks from Enunina V. Mangio, President of the Philippine Chamber of Commerce and Industry, and Ma. Anna Kathryna Yu-Pimentel, the Special Envoy to the UAE for Trade and Investment.
During the forum, a Memorandum of Understanding was signed between Dubai Chambers and the Philippine Chamber of Commerce and Industry to bolster cooperation, strengthen bilateral trade relations, and explore new collaborative opportunities between the business communities of Dubai and the Philippines. Additionally, Dubai Chambers delivered a presentation highlighting Dubai's strategic advantages as a global business hub and potential areas for cooperation between Dubai and Filipino companies.
Non-oil trade between Dubai and the Philippines reached a value of AED3.1 billion in 2024. By the end of last year, the number of active Filipino companies registered with the Dubai Chamber of Commerce rose to 2,154, representing approximately 37% year-over-year growth. The chamber has identified several high-potential export sectors from Dubai to the Philippines, including leather, car parts, fertilizers, flat-rolled iron/steel, organic chemicals, and flooring materials. Furthermore, promising investment sectors for Dubai-based companies in the Philippines include tourism, agri-industries, telecommunications, logistics, and healthcare.