Makati City, Philippines—Department of Trade and Industry (DTI) Secretary Cristina A. Roque laid out strategies to strengthen the United Kingdom and the Philippines’ (UK-PH) economic ties at the “Forecasting 2025: UK-PH Economic Perspectives” on January 30. These initiatives are central to the DTI’s broader campaign to establish the Philippines as a leading investment hub.

“We celebrate another year of fruitful partnership between the Philippines and the United Kingdom. Together, we envision the Philippines emerges as a prime investment destination in the region, with the UK as a vital partner in this transformation,” Secretary Roque highlighted.

“We deeply value this partnership and see immense potential for further collaboration. We are actively pursuing initiatives to deepen our economic ties and create new opportunities for both our countries,” she added

Witnessed by Budget and Management Secretary Amenah Pangandaman and Ambassador to the Philippines Laure Beaufils, Secretary Roque presented three comprehensive initiatives to deepen our economic ties with the UK.

Among the strategic efforts was the country’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and the complementary efforts to enhance trade relationships with the UK and other member countries.

The trade chief also welcomed the Developing Countries Trading Scheme that will provide preferential access to the UK market for Philippine goods, further facilitating our free trade with the British economy.

Both countries are committed to establishing the UK-Philippines Joint Economic and Trade Committee in the first half of the year. This dedicated platform will facilitate ongoing dialogue and cooperation on trade, investment, and economic issues between the two states.

Apart from these initiatives, Secretary Roque stressed the Philippines’ focus on streamlining and digitalizing processes to facilitate foreign business operations.

“Our Green Lanes Program for strategic investments has already endorsed 179 projects with a total investment of PHP 4.55 trillion, and we are determined to do much more,” she stated.

In 2024, the DTI exceeded its approved investments target of PHP 1.5 trillion, reaching PHP 1.62 trillion.

Secretary Roque highlighted the immense potential for British businesses to invest and expand in key Philippine industries, including manufacturing, information technology and business process management, and renewable energy.

“Under the visionary leadership of President Ferdinand R. Marcos Jr., let us forge a powerful alliance, working hand-in-hand to realize the Bagong Pilipinas—a Philippines where inclusivity, sustainability, and shared prosperity are not mere aspirations, but the foundation of a brighter future for every Filipino,” Secretary Roque underscored.

The event was hosted by the British Chamber of Commerce of the Philippines and its Executive Director, Chris Nelson, and featured DTI Undersecretary Allan B. Gepty, Philippine National Bank First Vice President Alvin Arogo, and Asian Consulting Group Founder and CEO Mon Abrea. ♦

Date of Release: 04 February 2025

Related posts:

Biliran under price freeze following bridge incident DTI, OCCI discuss bolstering trade and investment ties between PH, Osaka firms ADB, TESDA and DTI-PTTC GMEA to Launch SkillsUpNet Philippines Phase 2 DTI’s SB Corp grants PHP 223.5M worth of loans to typhoon-hit Bicol MSMEs DTI, PUM Netherlands partner up to develop coco fiber products DTI implements vape and HTP regulations, reminds importers and manufacturers to register for PS License OBRA MIMAROPA wraps up historic trade show for entrepreneurs and creatives DTI celebrates Western Visayas’ local governance and creative excellence at CMCI Awards