2nd UK-Philippines Economic Dialogue Joint Press Statement

The United Kingdom and the Philippines convened the 2nd United Kingdom – Philippines Economic Dialogue on 19 August 2020. Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo and Her Majesty’s Ambassador Daniel Pruce led the virtual Dialogue.

This is the first bilateral dialogue of the Philippines outside ASEAN since the onset of the Covid-19 health emergency. Against challenges posed by the current pandemic, the United Kingdom and the Philippines commit “to support the global health response and efforts towards an inclusive, green and sustainable economic recovery”.

DTI Undersecretary Ceferino Rodolfo remarked:

The Philippines is a key economic partner and ally of UK in ASEAN. Engaging UK bilaterally is strategically important at this crucial time as they implement their independent trade regime and as we ramp up international cooperation towards recovery from the effects of the pandemic. This dialogue is the perfect avenue for us to lay the building blocks for a stronger and closer economic relationship in the future.

Her Majesty’s Ambassador Daniel Pruce said:

The past year saw great achievements on policy, stakeholder engagement, and programme outcomes across the development portfolio of the UK in the Philippines. Amid challenges brought by this global pandemic, our UK-Philippine ties continue to bring us closer towards an inclusive, green and sustainable economic recovery. We move a step closer to 75 years of UK-Philippine friendship, and we look forward to an even stronger collaboration between our nations working together to shape the UK‘s dynamic partnership with ASEAN and the wider region.

The 2nd Economic Dialogue marks a step towards 75 years of formal ties between the UK and the Philippines in 2021. Both countries reaffirm their commitment through a Joint Partnership Statement that will boost bilateral trade and investment; encourage increased investments in key sectors such as aerospace, electronics, automotive and pharmaceuticals; pursue innovation and industrial collaboration; foster MSME development; enable key reforms and deepen programme partnerships, including through the UK Prosperity Fund in areas like health, education, low carbon energy, infrastructure, finance, business environment, intellectual property, and digital economy.