- Labor relations are a key aspect of the relationship, with the Kingdom being a major employer for overseas Filipino workers.
- The two countries established diplomatic ties in 1969 and have been enhancing trade engagements.
- Marcos' visit to Saudi Arabia last year resulted in investment deals worth over $4.26 billion.
Labor relations have served as a cornerstone of Saudi-Philippine ties, given that the Kingdom is a primary destination for overseas Filipino workers. The latest government data reveal that between April and September 2022, the Kingdom employed more than 450,000 Filipinos.
On October 24, 1969, the two countries established diplomatic ties and have recently been striving to enhance trade engagements.
During Marcos’ visit to Riyadh last year to attend the Gulf Cooperation Council’s inaugural summit with the Association of Southeast Asian Nations, their business leaders collectively signed investment deals worth over $4.26 billion.
“The president had a fruitful visit to Saudi Arabia during the Kingdom’s hosting of the inaugural ASEAN-GCC Summit last October. A presidential state visit to Saudi Arabia in the near future is a possibility,” Manalo told Arab News over the weekend.
“We are positive that it would serve as an opportunity for our leaders to discuss ways of increasing political and economic cooperation, especially as we are set to celebrate the 55th anniversary of the establishment of diplomatic relations between our countries this year.”
Manalo said that the Philippines and Saudi Arabia have cherished "warm and vibrant bilateral ties" for over five decades. He added that the Southeast Asian country aims to attract more Saudi investors following reforms that have simplified investment requirements and processes.
“While labor relations remain a vital pillar of our ties, we are keen to broaden our partnership into other fields, such as renewable energy, tourism, and development of the Philippines’ halal industry.”
In January, the predominantly Catholic Philippines initiated a strategic plan to develop its halal industry, to create 120,000 new jobs and attract $4 billion in investments by 2028. The country seeks to tap into the global halal market, estimated to be worth over $7 trillion.
“The Philippines looks forward to deepening our collaboration with the new Saudi Arabia, spanning both traditional and emerging sectors,” he said.
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