MANILA, Philippines - The United Kingdom Embassy in Manila is organizing two business missions to the Philippines before the end of the year with the goal of increasing the trade volume between the two countries.
UK Trade and Investment director in Manila Iain Mansfield told reporters the business missions are slated for November and December, with one composed of firms from all over the UK and the other to be participated by companies from London and the north western part of UK.
“The business missions are part of the plan to double trade by 2017,†he said.
Two-way trade of goods and services between the UK and the Philippines reached £1.2 billion in 2012.
Just last week, a trade delegation composed of representatives from UK firms Arup, CiDRA Corporate Services, Gilbert Gilkes & Gordon, Lloyd’s Register, Lucy Switchgear and TSORS Limited, were in the country to look at opportunities in the energy sector.
With two more in the works before the end of 2013, business missions from the UK are seen to hit a total of six to seven this year.
“That is the highest number (from the UK) in a while,†Mansfield said noting that there has been increasing interest from British firms to look at opportunities here because of the country’s positive economic performance.
Apart from the two business missions, he said the UK Embassy is also holding webinars focused on different topics on available opportunities here.
Through the webinars, UK firms are given a chance to interact with local officials online to know more about the investment environment and what sectors are open for business.
Mansfield said the first webinar was conducted in August and eight more are planned before March, which would cover topics including retail, starting a business in the Philippines as well as the education sector.
He noted that the British Embassy is getting 25 companies as participants in each webinar.
As it is difficult for some companies in the UK to come here, the webinar is being used by the British Embassy as a tool to market the Philippines.
“We want to attract British companies to export, do business or invest in the Philippines,†Mansfield said.