At the quarterly media briefing last Friday, 6th May 2016, British Chamber Chairman Chris Nelson and UK Trade and Investment (UKTI) Director Mike Moon both expressed their positive outlook on the Philippine-UK trade relations.
The Chamber has assisted over 800 SMEs that are interested in doing business in the country since 2014 with the support from UKTI.
“It’s a very exciting time here in the Philippines with more British companies signifying their interest to export or do business in the market.” Nelson said.
The UK is the highest European investor in the Philippines, with a net FDI stock of over $5bn. Moreover, the bilateral trade between the two countries is worth around $1.8 billion annually. UK exports to the Philippines grew by 44% in the first half of 2015. Pharmaceutical products, industrial materials, and automotive vehicles remain the top 3 exports of the UK to the country.
Nelson also mentioned that the Chamber is currently supporting one of most anticipated business events of 2016, the International Festival of Business (IFB) in Liverpool this coming June.
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