By Justine Irish D. Tabile, Correspondent
United Kingdom (UK) Trade Envoy George Freeman MP expressed that he aims to pinpoint significant partnership opportunities that could facilitate a doubling of bilateral trade within the next three to four years.
“In the coming three or four years, I intend to identify specific strategic initiatives and substantial partnership opportunities that we could cultivate,” Mr. Freeman shared with reporters during a roundtable event on Friday.
“There are several sectors I am eager to delve into. However, by strengthening and establishing a strategic partnership, I believe that the three billion figure can be significantly enhanced over the next three to four years,” he continued.
Bilateral trade between the Philippines and the UK soared to a record high of 3 billion pounds last year.
Mr. Freeman is visiting the Philippines on a three-day mission to engage with business leaders and government representatives.
When questioned about the feasibility of doubling the bilateral trade in the upcoming three to four years, he responded, “Yes, is fundamentally the answer. And this underscores the point I was making regarding strategic collaborations.”
“Should we cultivate a partnership focusing on the digital economy, cybersecurity, combating fraud, and ensuring Filipinos have access to secure online commerce, that alone, over the next five or ten years, could significantly attract more UK investments into the Philippines if we are committed to it,” he emphasized.
He noted that such foundational and structural partnerships serve as a growth catalyst in their own right.
In 2024, the Philippines recorded a trade surplus with the UK, exporting roughly 1.8 billion pounds.
Lindsey Gilbert-Crouch, director of trade and investment at the British Embassy Manila, mentioned that the food sector is among the promising areas for expansion concerning Philippine exports to the UK.
“Consumers in the UK are increasingly prioritizing health, and there are numerous food products from the Philippines that are in high demand in the UK,” she stated.
“I am particularly considering coconuts and coconut-based goods, mangoes, dried fruits, especially bananas, but essentially fruits and vegetables, particularly dried items, are a crucial growth sector,” she added.
She also highlighted the demand for Filipino artisanal goods.
“They are not interested in fast fashion; they seek unique, handcrafted items. This is where Filipinos excel immensely,” she remarked.
“The most exquisite products are crafted here, from leather goods to other related offerings,” she noted.
