Top UK trade official in town

MANILA, Philippines — A top UK trade official is visiting the Philippines this week to further boost trade and investment relations between the UK and the Philippines.

UK Prime Minister’s Trade Envoy to the Philippines, Malaysia, Indonesia and the ASEAN Economic Community Richard Graham will return to the country for the third time to visit Bataan, Pampanga and Manila to discuss potential infrastructure development.

Last March, Graham visited the country along with a 30-member delegation which explored trade and investment opportunities in the areas of education and infrastructure.

Graham is also set to host an event promoting the entry of British beef into the Philippines following the announcement last month of the five-year export deal worth £34 million.

Apart from Graham, UK Export Finance chief executive Louis Taylor arrived in the country last Thursday and had conducted meetings with representatives from the Department of Finance, the Department of Public Works and Highways and the Asian Development Bank.

UK Export Finance is the official export credit agency of the UK government, offering financing and support to overseas buyers of UK exports.

UK Export Finance has just doubled its maximum cover limit for the Philippines from £2.1 billion to £4.2 billion, while offering its lowest country rate for Philippine projects.

With the Philippine government ushering an ambitious round of infrastructure development, greater access to UK export credit is seen to further boost the process of Philippine development.