Manila: The Philippines stands to unlock access to the massive sovereign wealth fund of the United Arab Emirates (UAE) with the signing of the Comprehensive Economic Partnership Agreement (CEPA), a senior trade official said Tuesday. On the sidelines of the Doing Business in the Philippines forum in Taguig City, Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo stated that once CEPA is signed and enters into force, this trade and investment deal will allow the country to tap into the sovereign wealth funds of the UAE, which is valued at around USD2.39 trillion as of May 2025, according to Global Sovereign Wealth Fund (SWF).

According to Philippines News Agency, the Global SWF ranked the UAE as the world's second-largest SWF manager, only behind China with a sovereign investment fund of around USD2.77 billion. Rodolfo highlighted that UAE's sovereign wealth funds and private investors have been investing heavily in private equities. These investments are evident abroad, particularly in Western countries, and are now extending into the Philippines.

Rodolfo emphasized that the two countries could collaborate on a framework under CEPA to utilize UAE's sovereign investment fund for financing key projects in the Philippines. The CEPA is seen as a significant step in unlocking more investments, particularly from UAE's sovereign wealth funds.

Last week, UAE Ambassador to the Philippines Mohamed Obaid Salem Al Qatam Alzaabi and Philippine Special Envoy to the UAE for Trade and Investments Ma. Anna Kathryna Yu Pimentel mentioned that both countries aim to sign CEPA next month. Once signed, this would mark the Philippines' first free trade agreement (FTA) in the Middle East.

President Ferdinand R. Marcos Jr. has directed the DTI to diversify trade and investment partners by establishing free trade deals with various countries.