A Filipino businessman believes Philippine-Saudi Arabia relations are entering a new phase, expanding beyond overseas employment toward investment, trade, innovation, and long-term economic cooperation.

Dr. Jose Antonio Ejercito Goitia, chairman and president of JACCG Holdings Inc., said decades of trust built by Filipino workers in Saudi Arabia have laid the foundation for broader collaboration under the Kingdom's Vision 2030program.

"Employment built the trust between our two countries, but trust was always the real foundation of this relationship," Goitia said.

He said the Philippines can contribute not only through its workforce but also through entrepreneurs, educational institutions, agribusinesses, and service providers, particularly in food security, renewable energy, healthcare, and advanced technologies.

Goitia added that stronger engagement between the private sectors of both countries will be key to transforming longstanding goodwill into sustainable economic partnerships.

Trade between the two countries also continues to grow. Saudi Aramco is set to open its first branded gasoline station in the Philippines on 16 July, following its acquisition of a 25 percent stake in Unioil Petroleum Philippines last year.

Saudi Arabia remains the top destination for overseas Filipino workers, hosting an estimated 480,000 to nearly one million Filipinos, according to government data.