UK eyes to double bilateral trade with Philippines

United Kingdom (UK) Trade Envoy George Freeman MP said that he is looking to identify deep partnership areas that could help double bilateral trade in the next three to four years.

“Over the next three or four years, I am looking to identify some strategic projects and deep partnership areas that we could develop,” Mr. Freeman told reporters in a roundtable discussion on Friday.

“There are a few areas that I am keen to explore. But by deepening and having a strategic partnership, I think that three billion number, I would like to increase that substantially over the next three or four years,” he added.

Bilateral trade between the Philippines and the UK reached an all-time high last year of 3 billion pounds.

Mr. Freeman is in the Philippines for a three-day mission to meet business leaders and government officials.

Asked if it is possible to double the bilateral trade in the next three to four years, he said, “Yes, is basically the answer. And this is really the point I was making about strategic partnerships.”

“If we develop a partnership around the digital economy, cybersecurity, tackling fraud, and giving Filipinos access to secure online trading, that alone, over the next five or ten years, if we are serious about it, can bring in a lot more UK investment into the Philippines,” he added.

He said that such fundamental and structural partnerships create a growth engine of their own.

In 2024, the Philippines ended at a surplus in terms of trade with the UK, exporting approximately 1.8 billion pounds.

Lindsey Gilbert-Crouch, director of trade and investment at the British Embassy Manila, said that the food industry is among the potential areas for growth in terms of Philippine exports to the UK.

“People in the UK are becoming ever more health conscious, and there is a lot of food in the Philippines that is incredibly in demand in the UK,” she said.

“So, I am thinking coconuts and coconut products, mangoes, dried fruits in particular, bananas, but really fruits and vegetables, particularly dried products, are a really key growth area,” she added.

She also said that there is also demand for Filipino artisanal products.

“They do not want fast fashion; they do not want mass-produced stuff. And this is something where Filipinos are incredibly talented,” she said.

“The most beautiful products are produced here, leather goods and other things in that area,” she added.