The British Chamber of Commerce Philippines (BCCP) paid a courtesy visit to the Philippine Embassy in London and met with Ambassador of the Philippines to the United Kingdom Teodoro Locsin Jr. to discuss the growing investment opportunities for British companies across various sectors, including renewable energy, agriculture, cybersecurity and manufacturing.
In an interview, BCCP Executive Vice Chair Chris Nelson noted that, ‘The current government has put trade and investment at the forefront, which I think is very good – particularly for the UK and the Philippines.Let me just remind everyone, next year will be the 80th year of diplomatic relations between our two countries, and we continue to see growth in trade between the two areas.’
The meeting was also joined by Consul Emilio Lopue and Philippine Trade and Investment Center Counselor Celynne Layug to discuss other areas of cooperation. In the four quarters to the end of Q1 2025, the total trade in goods and services between the UK and Philippines reached £3.0 billion, marking a 6.0% increase from the same period of 2024.
The Philippines has remained as the UK’s 59th largest trading partner, to which Nelson expressed optimism in moving further towards noting the recent trade developments between the two countries such as the Joint Economic and Trade Committee (JETCO), Developing Countries Trading Scheme (DCTS) and the Philippines’ interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Department of Trade and Industry (DTI) Undersecretary Allan B. Gepty has previously noted that, ‘Actually, with the entry of the UK, it gave us more reason to join CPTPP because the UK is one of our biggest trading partners.’
Meanwhile, economic reforms in the Philippines also remain a key driver in advancing the UK-Philippine trade, particularly the CREATE MORE Act and recently signed laws such as the 99-year land lease law, E-Governance, and Konektadong Pinoy.
The country’s economic zones, according to Nelson, are also gaining momentum following an increasing presence of the British business community.
The Philippine Economic Zone Authority (PEZA) has recognized the UK as the leading investor in January 2025 and has been identified as one of the top ecozone locator investments with British companies contributing to 6.89%, contributing a cumulative investments valued at P34.036 billion since 1994-2024.
Nelson also announced the upcoming meat trade mission with the UK Agriculture and Horticulture Development Board (AHDB) on November 18 to 20, signaling a continuous partnership since 2021 and the UK’s role in ensuring food security and managing inflation.
He further added that, “The UK has been a strong investor in the Philippines and most recently we have seen a lot of activities in renewable energy and other sectors. What we want to see is more opening of the economy, further discussion and focus on that, and to make sure priority legislation like cybersecurity gets passed.’