By Marinel E. Peroy
The United Kingdom and the Philippines are set to strengthen their economic and strategic partnership in the UK-Philippines Strategic Dialogue in London next week, boosting UK’s standing as the largest direct investor in the country.
As UK contributed $9.3 billion in the first ten months of 2024, the high-level discussions will focus on key areas of cooperation, including trade and investment, renewable energy, infrastructure, technology, defense, and financial services.
British Ambassador to the Philippines and Palau Laure Beaufils made the announcement during a forum hosted by the British Chamber of Commerce Philippines (BCCP) on Thursday in Makati City.
Ambassador Beaufils confirmed that she will be in London on Monday, February 3, to attend the annual dialogue, which will be co-chaired by UK Parliamentary Under-Secretary of State (Indo-Pacific) Catherine West and Department of Foreign Affairs (DFA) Undersecretary for Bilateral Relations and ASEAN Affairs Ma. Theresa P. Lazaro. The UK ambassador is also scheduled to meet George Freeman MP, the newly appointed UK Trade Envoy to the Philippines.
“There is no doubt that 2025 will bring opportunities,” the ambassador said, expressing optimism that the UK-Philippines relationship will continue to thrive with “resilience, stability, predictability, and growth” in the coming year.
Despite acknowledging potential challenges such as geopolitical risks, protectionist policies, and emerging technologies like artificial intelligence, Beaufils underscored the shared values of both nations, particularly their commitment to upholding international law and fostering open and free societies.
The ambassador emphasized the UK’s continued support for British and Philippine businesses through initiatives such as the UK-Philippines Joint Trade and Economic Committee (JETCO) and the UK’s Developing Countries Trading Scheme (DCTS). She also highlighted the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a significant step in deepening its engagement in the Indo-Pacific region.
“We want to engage with key areas such as renewable energy, infrastructure, technology, defense, and financial services. We cannot only contribute to the Philippines’ development, but also create lasting economic opportunities for British businesses,” Beaufils said.
One of the notable investments in the renewable energy sector is Actis’s $600 million commitment to the Terra Solar project in the Philippines. This reaffirms UK’s commitment to supporting the Philippines’ clean energy transition.
Additionally, the upcoming UK-Southeast Asia Tech Week in March 2025 is expected to open more avenues for collaboration.
“The British Embassy remains fully committed to supporting you, whether it’s providing insights, exploring opportunities, or working to make business easier for you,” Beaufils added.
Meanwhile, BCCP Executive Director and Trustee Chris Nelson expressed optimism about increased ministerial visits between the UK and the Philippines this year. He recalled attending the Philippine Economic Briefing in London in October 2024 and voiced hopes for more high-level engagements between the two countries.
Nelson also emphasized the importance of key priority legislations for 2025, particularly the Cybersecurity Act, the E-Governance Act, and the Open Access in Data Transmission Act.
When asked about UK business investors looking at opportunities in the Philippines, he said, “We’re always working on it. We’re looking at sectors [such as] renewable energy, but we’re looking for food [and] drinks.”
Held at Makati Commerce Tower, the BCCP event titled “Trade & Connect — Forecasting 2025: UK-PH Economic Perspectives” gathered representatives from the government and private sectors. Attendees included Department of Trade and Industry (DTI) Secretary Cristina Roque, DTI Undersecretary for International Trade Group Allan Gepty, Department of Budget and Management (DBM) Undersecretary Joselito Basilio, PNB’s Economist and Research Division Head & First Vice President Alvin Arogo, and ACG’s Founder and CEO Mon Abrea.
