UK-PH trade relations remains ‘very high’

MANILA, PHILIPPINES — Trade relations between the United Kingdom (UK) and the Philippines remain very high, nearly seven months since the start of Marcos’ administration.

In an interview with CNN Philippines, British Chamber of Commerce Philippines (BCCP) Executive Director and Trustee Chris Nelson said that the “tremendous moves in terms of legislation” during the previous administration reinforced the Philippines as an attractive investment destination for British companies. 

However, Nelson said that most firms are still waiting for the implementing rules and regulations of the amended Public Service Act.

At the same time, companies are also looking for more clarity, further opening of the economy, and the removal of other barriers of investment.

“I think the Philippines is also looking to improve its digitalization, which, I think, will help in terms of process so, I think, it is more on creating those opportunities, again, getting people to set up quickly and to do business here,” Nelson said.

He also said British companies see the Philippines as a very important market, describing it as a “gateway” to Southeast Asia.

Philippines dignitaries, including Finance Secretary Benjamin Diokno, are set to visit London at the end of the month for an economic discussion.