Biz Memos

British Chamber discusses trade, investment opportunities with Philippine Embassy in London

British Chamber discusses trade, investment opportunities with Philippine Embassy in London

The British Chamber of Commerce Philippines recently paid a courtesy visit to the Philippine Embassy in London to discuss trade and investment opportunities for British companies.

The discussion aims to highlight the ever-growing bilateral trade between the UK and the Philippines across multiple sectors including agriculture, tourism, infrastructure, technology, and cybersecurity, among many others. 

BCCP Executive Director/Trustee Chris Nelson presented the British Chamber’s key objectives, priorities, and initiatives in 2024 to the Philippine Embassy London Third Secretary and Vice Consul Bea Martinez and Kristine Nobleza of the Philippine Trade and Investment Centre London.

Among its key priorities is supporting the Anti-Red Tape Authority (ARTA) and other relevant government agencies on the ease of doing business initiatives–having represented over 300 Member companies in the Philippines. 

Last May 10, 2024, the British Chamber officially signed a Memorandum of Understanding (MOU) with ARTA, marking its commitment to address and raise awareness on red tape and other bureaucratic concerns. 

“This reinforces the joint efforts of ARTA and the British Chamber in eliminating economic barriers and creating a conducive business environment for the British and the overall business community in the Philippines,” Nelson said. 

The British Chamber also consistently expressed support for the priority legislation under the President Marcos administration namely: Anti-Agricultural Economic Sabotage Act, Cybersecurity Act, and Anti-Financial Account Scamming Act.

Nelson acknowledged the role of the agricultural industry in both the UK and the Philippines, citing that the Anti-Agricultural Economic Sabotage Act is key in promoting a competitive industry to help the country’s challenge on inflation and food security brought about by El Niño and African Swine Fever (ASF).

In line with this is its advocacy on the full implementation of the Executive Order No. 50, mandating the extension of lowered tariffs on pork and other agricultural commodities.

Also citing the UK as a global hub for cybersecurity excellence, Nelson noted opportunities for collaboration with British companies to further strengthen the Philippine digital infrastructure and promoted the passage of the Cybersecurity Act and Anti-Financial Account Scamming Act.

“Cybersecurity is a key issue particularly for the financial sector but also across the whole area. We strongly urge the passage of those key legislation which will reinforce and make the companies and the public even more aware of this key issue,” Nelson said in an interview.

The British Chamber actively promotes the UK-Philippine trade and has closely worked with the Philippine government in its initiatives. It remains optimistic that the current figure in total trade in goods and services at £2.8 billion will continue to grow, aligned with the Philippine goal of attaining an upper-middle income status in 2025 and as an investment destination in the region. 

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