UK mission to look for biz opportunities

MANILA, Philippines - British firms engaged in defense and aid-funding sectors are in the country to explore trade and investment opportunities.

A business delegation composed of 19 companies from the United Kingdom (UK) engaged in the defense and aid-funded business sectors are in the country this week as part of the UK government’s initiative to stimulate bilateral trade and investment between the Philippines and the United Kingdom.

Of the 19 firms, 13 companies from the defense sector are in the country to participate in a UK defence and technology event this week.

A number of companies active in the aid-funded business sector are also in the country to explore opportunities linked to the Asian Development Bank’s project in the Philippines and wider Asian region.

As the UK seeks to strengthen trade and investment ties with the Philippines, British Ambassador Stephen Lillie signed a Memorandum of Understanding for a partnership with the British Chamber of Commerce of the Philippines (BCCP) vice chairman Roger Lamb on Monday.

Lillie said the UK is keen on building on the success of existing British companies in the Philippines and to bring more companies in the market here in partnership with the BCCP.

“We have put business promotion front and center of the UK Foreign Office’s effort. The Embassy is working with the Chamber to promote the UK in the Philippines,” he said.

“My ambition is that, through closer partnership, the Chamber will be able to play an increasingly active role, not only in promoting the interests of incumbent British companies, but in helping new exporters and investors from the UK to enter the market,”  he said further.

He also said it is timely to sign a partnership agreement and help other British firms enter the Philippine market given the Philippine’s strong economic growth and improving competitiveness rankings.

“From GDP (gross domestic product) growth to the stock market and international competitiveness rankings, all the good indicators are going up.  Meanwhile, the negative indicators, corruption and the government deficit are going down,” he said.

“And I was really pleased to hear about the positive evaluation of ICAO (International Civil Aviation Organization) during its recent visit to the Philippines, which I hope will lead to the start of direct flights between our countries before too long,” he added.