British Chamber highlights growth opportunities on UK-Philippines trade in 2025

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The British Chamber of Commerce (BCCP) recently hosted the “Forecasting 2025: UK-PH Economic Perspectives” event, highlighting growth opportunities in UK-Philippines trade. Supported by venue partner Colliers and media partner Malaya Business Insight, the event underscored the robust economic relationship between the two nations.

His Majesty’s Ambassador to the Republic of the Philippines and the Republic of Palau Laure Beaufils

Key figures in attendance included His Majesty’s Ambassador Laure Beaufils, Secretary Ma. Cristina Roque of the Department of Trade and Industry, Undersecretary Joselito R. Basilio from the Department of Budget and Management, and financial experts like Vice President Alvin Arogo from the Philippine National Bank and Mr. Mon Abrea from the Asia Consulting Group. They discussed economic trends and investment opportunities for 2025 and beyond.

In her opening remarks, Ambassador Beaufils reaffirmed the UK’s commitment to strengthening trade ties with the Philippines. “For the first time in five years, the UK tops the foreign direct investment flow source for the Philippines, contributing £9.3 billion or 52.5% of total equity placements in the first ten months of 2024,” she noted. She also highlighted that trade reached £2.9 billion in 2024, a 15% increase that signals a strong recovery from the pandemic.

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Secretary Roque echoed this sentiment, emphasizing the Philippines’ aim to become a prime investment destination through government reforms and strategic priorities outlined in Vision 2025. “The Philippines welcomes UK businesses, large and small, as we work to make our country an investment hub in Southeast Asia,” she stated.

Undersecretary Basilio outlined the government’s commitment to digital transformation, including a ₱68.9 billion budget allocation for ICT projects aimed at fostering transparency and innovation in investment.

During a panel discussion moderated by BCCP Executive Director Chris Nelson, participants explored future trade trajectories between the UK and the Philippines. A key highlight was the potential establishment of a UK-Philippines Joint Economic and Trade Committee (JETCO) in early 2025, which aims to unlock trade opportunities and address market access barriers. The BCCP also welcomed the Philippines’ interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), positioning it as an attractive investment destination for UK businesses.

As both countries look ahead to 2025, optimism abounds for continued collaboration and growth in key sectors such as renewable energy, infrastructure, technology, and digital financial services.

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