British retailers remain eager to do business in RP

British retailers remain eager to do business in the Philippines despite rising political concerns and the recent travel warning issued by the British Embassy.

According to British Ambassador to the Philippines Paul Dimond, "it’s more than business as usual."

He assured that the recent level advisory is nothing new or unusual since the Embassy regularly issues such advisories.

The British Embassy’s recent travel advisory warned British travelers about continuing peace and order problem and political unrest.

He clarified that while the Embassy issues such travel advisories, "we do not discourage British visitors."

He also assured that British companies continue to show interest in the Philippine market.

Manny Silverman of the UK Trade & Investment agreed that British firms remain interested in the Philippines.

"But there hasn’t been anyone aggressively promoting retail," Silverman said.

At the same time, Silverman observed, British retailers "don’t really know what the Philippine market really is."

He also expressed the view that Filipino retailers are not global retailers and are still developing the domestic market.

He, therefore, urged Filipino retailers to take "a quantum leap" to enter the global market.

However, to do so, Silverman advised, Filipino retailers should initially enter into joint ventures with more experienced foreign retailers.

British retailers that are already in the Philippines include Marks & Spencer, Topshop and Lush.