The UK and ASEAN member state the Philippines agreed to deepen their cooperation in trade and economy, green infrastructure, digital economy, manufacturing, and innovation during the 3rd Philippines-United Kingdom Economic Dialogue on 9 February.
The two countries also pledged to work towards boosting bilateral trade and investment and agreed to continue coordination on trade policy, regional trade interests, and multilateral engagement, in addition to a regular dialogue on market access issues and investment opportunities, the UK government said in a statement.
The UK and the Philippines aim to deliver on several critical objectives, including building resilience of the economy, ecosystems, and communities; establishing a development pathway towards net zero emissions by 2050; mobilising sustainable finance; and strengthening collaborations in tackling climate change, the British Embassy in Manila noted.
“The Philippines is a very important and valued partner for us. We are committed to pursuing deeper collaboration with the Philippines and enabling great integration in the ASEAN region,” Her Majesty’s Ambassador to the Philippines, Laure Beaufils, said.
The UK is committed to deepen inclusive and sustainable economic development ties with the Philippines, as well as to explore opportunities for regional opportunities in light of the UK’s conferment as ASEAN Dialogue Partner and the Philippines’ role as ASEAN Economic Coordinator for the UK, Ambassador Beaufils added.
Ceferino Rodolfo, the Philippine Department of Trade and Industry Undersecretary, said: “The United Kingdom is a key trade, investment, and cooperation partner of the Philippines. Given the importance of international collaboration especially in global health response and economic recovery efforts in view of the pandemic, we acknowledge the complementarities that both our countries can capitalize on towards this end.”