Philippine, United Kingdom bullish on stronger trade in 2026
The Philippines and the United Kingdom are upbeat about expanding trade and investment ties in 2026. Officials from both sides cite strong economic fundamentals, aligned sector priorities and institutional frameworks for cooperation.
Philippine Trade Undersecretary Allan Gepty said the country’s chairship of the Association of Southeast Asian Nations presents a strategic opportunity to strengthen economic cooperation with the United Kingdom, particularly in trade.
“This chairship presents a timely chance to deepen and expand opportunities” between Manila and London, Gepty said. He noted the already “strong economic partnership” between the two countries.
Bilateral trade between the Philippines and the United Kingdom stood at about £3 billion in 2024.
Philippine exports to the United Kingdom rebounded to $547 million, surpassing levels recorded in previous years.
Iaian Frenkiel, trade and investment director at the British Embassy, said the strength of trade between the two countries goes beyond the numbers as they also share the same investment priorities.
“Most UK companies—and definitely us at the British Embassy—still see very sound economic fundamentals here,” Frenkiel said at a British Chamber of Commerce of the Philippines forum on Thursday.
“We’ve got strong growth, a growing population in an exciting and dynamic region and we’re seeing strong messages from the government,” he added. “So, [we see] a strong year ahead.”
Frenkiel said the United Kingdom is currently focused on infrastructure, renewable energy and digital technology, including cybersecurity, health care, defense-related industries and financial and professional services.
This alignment is reflected in British investments in the country.
British firms are the fourth-largest investor group by nationality that is active in the Philippine economic zones.
Tereso Panga, director general of the Philippine Economic Zone Authority, said British locators account for 75 companies with P229 billion in cumulative investments, $1.4 billion in exports and more than 82,000 direct jobs. These span advanced manufacturing, shared services, technology and energy.
Panga said these include long-term investments by HSBC, Telus, QBE Insurance Group and the pharmaceutical giant AstraZeneca. The latter is preparing a P6 billion to P7 billion investment in Peza.
Gepty said bilateral trade is supported by preferential agreements such as the UK’s Developing Countries Trading Scheme and the Joint Economic and Trade Committee (Jetco), which was first convened in early 2025.
Beyond Jetco, Gepty said Manila is looking to advance its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This includes the United Kingdom among its 12 members. The Philippines formally applied for accession in August 2025.
