King Charles III’s coronation reinforces economic relations, awaiting launch of DCTS — British Chamber

TAGUIG CITY, Philippines — In an interview with ANC’s Top Story, Chris Nelson, executive director and trustee of the British Chamber of Commerce Philippines said on May 5 that the first UK coronation in 70 years will give a boost to the economy, particularly in the tourism, hotels and restaurant industries. 

The economic relationship between the UK and the Philippines will also be improved through the attendance of President Ferdinand "Bongbong" Marcos Jr. and First Lady Imelda Araneta-Marcos. 

“This is the first coronation in over 70 years so it's a big highlight for the country…I think the focus will be there. I think you'll see how [King Charles III] can continue to engage and keep the monarchy relevant and key to the people of the UK,” Nelson said. 

On the other hand, on June 7, 2023, the Developing Countries Trading Scheme (DCTS) will be officially launched in the Philippines.

This will cover over 99% of Philippine exports to the UK, with an estimated tariff saving of £21 million for Philippine businesses. This will be spearheaded by the British Embassy in Manila.

Similarly, the British Embassy hosted the public screening of King Charles III's coronation last May 6 at the Quezon City Circle. 

READ: Quezon City hosts public viewing of ‘modern’ King Charles III’s coronation