The British Chamber of Commerce Philippines hosted a trade briefing on February 14, with Department of Trade and Industry (DTI), UK’s Agriculture & Horticulture Development Board (AHDB), and the British Embassy Manila to reinforce the ever-growing trade relations of the UK and the Philippines–particularly, the meat industry.
The briefing was joined by BCCP Executive Director/Trustee Chris Nelson, along with the DTI representatives Chief Trade-Industry Development Specialist Myrtle Faye Solina, Product Officer for Meat Georgina Verdeflor, Supervising Trade-Industry Development Specialist Heizle Trasmañas, Senior Trade-Industry Development Specialist Antonie Lyka Manaloto, AHDB Head of International Trade Jonathan Eckley and Senior Analyst Freya Shuttleworth, and British Embassy Manila Senior Market Advisor Windy Anonuevo & Market Access and Trade Policy Manager Miguel Rivera.
The DTI presented investment opportunities in the Philippine food and agriculture sector with a key focus on swine products. It emphasized on the UK as one of its relevant trading partners with the UK as one of the Philippine top 10 import suppliers for pork. Meanwhile, the AHDB noted that the Philippines remains to be its 2nd largest export market in Asia after China. Despite the challenge of African Swine Fever, it is further noted that pork imports continue to increase which helps assist with inflation and food security.
The DTI also highlighted the Philippines as a regional food processing hub with nearly 50% of exports contributing to the Regional Comprehensive Economic Partnership (RCEP) partners. Trade agreement initiatives were also emphasized including the Philippine interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and establishing a Joint Economic and Trade Committee (JETCO) to strengthen the UK-PH bilateral trade relations further.
The British Chamber reiterated its consistent support for the lowered tariffs on pork which has been extended until the end of the year. The passage of the Anti-Agricultural Economic Sabotage Act is also one of its key priorities to further improve the local agricultural sector to help with inflation and ensure food security.
