Philippines, UK eye stronger links

MANILA, Philippines — The Philippines and the United Kingdom are looking to strengthen cooperation on priority sectors such as manufacturing and innovation as part of efforts to boost trade and investment ties and promote economic recovery.

In a statement, the Department of Trade and Industry (DTI) said the Third Philippines-UK Economic Dialogue, led by Trade Undersecretary Ceferino Rodolfo and British Ambassador Laure Beaufils, was convened last Wednesday, where the parties discussed the commitment to build back better from the pandemic.

During the dialogue, the two countries discussed deepening cooperation in priority sectors such as manufacturing and innovation.

Both countries will also pursue mutual prosperity in the areas of economic reform, green infrastructure, human development and the digital economy.

The Philippines and UK likewise agreed to continue to work together on trade policy, regional trade interests, and multilateral engagement in addition to a regular dialog on market access issues and investment opportunities.

In addition, the two countries will promote strong bilateral and regional linkages, capacity building, and sharing of expertise and best practices that are aligned with the United Nations Sustainable Development Goals and the Philippine Development Plan.

The dialog is the first manifestation of the new Enhanced Partnership agreed by Foreign Affairs Secretary Teodoro Locsin Jr. and UK Foreign Secretary Liz Truss in November last year.

“The United Kingdom is a key trade, investment, and cooperation partner of the Philippines. Given the importance of international collaboration especially in global health response and economic recovery efforts in view of the pandemic, we acknowledge the complementarities that both our countries can capitalize on towards this end,” Rodolfo said.

For her part, Beaufils emphasized the UK is committed to deepen inclusive and sustainable economic development ties with the Philippines, as well as to explore opportunities in light of the UK’s conferment as Association of Southeast Asian Nations (ASEAN) Dialogue Partner and the Philippines’ role as ASEAN Economic Coordinator for the UK.

“The Philippines is a very important and valued partner for us. We are committed to pursuing deeper collaboration with the Philippines and enabling great integration in the ASEAN region. We will do this in areas of common interest, and deliver tangible results to the benefits of both of our countries and their citizens,” she said.