go through Justin Ireland D. Table,,,,, reporter
The British (UK) trade envoy, MP George Freeman, said he is seeking to identify areas of deep partner that can help dual trade over the next three to four years.
“In the next three or four years, I hope to identify some strategic projects and deep partner areas that we can develop,” Mr Freeman told reporters during a roundtable discussion on Friday.
He added: “I’d love to explore some areas. But by deepening and building strategic partnerships, I think there’s 3 billion numbers and I want to increase substantially over the next three to four years.”
Last year, bilateral trade between the Philippines and the United Kingdom reached £3 billion.
Mr Freeman is on a three-day mission in the Philippines to meet with business leaders and government officials.
Asked if it is possible to double bilateral trade in the next three to four years, he said: “Yes, basically the answer. That’s really my focus on strategic partnerships.”
He added: “If we build partnerships around the digital economy, cybersecurity, addressing fraud and enabling Filipinos to secure online transactions, we can bring more UK investment into the Philippines if we take it seriously only in the next five to ten years.”
He said this basic and structural partnership creates its own growth engine.
In 2024, the Philippines ended with a surplus in trade with the UK, exporting about £1.8 billion.
Lindsey Gilbert-Crouch, director of trade and investment at the British Embassy Manila, said the food industry is one of the potential growth areas for growth when it comes to Philippine exports to the UK.
“People in the UK are becoming more and more healthy, and there is a lot of food in the Philippines that is incredible in the UK,” she said.
She added: “So I’m thinking about coconut and coconut products, mangoes, especially dried banana fruits, but real fruits and vegetables, especially dried products, are a real key growth area.”
She also said that Filipino handmade products are also needed.
“They don’t want fast fashion; they don’t want something that is mass-produced. This is where Filipinos are very talented,” she said.
She added: “The most beautiful products here are made in the area, leather products and other things.”
