British Chamber welcomes UK joining CPTPP, looks forward to Philippines’ participation

April 13 — In a live interview, Chris Nelson, Executive Director/Trustee of the British Chamber of Commerce Philippines shared the continuous strong business opportunities and trade relations between the UK and the Philippines.

Nelson explained that the Philippines is an attractive destination for foreign investors because of the young and dynamic workforce in the country. Further to this, the recent economic laws such as the 100% full foreign ownership such as renewable energy help in further liberalising the market.

“Along with the RCEP, the UK has just become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP. I think now that the Department of Trade and Industry (DTI) is looking at CPTPP. I [also] think that also reinforces how critically important Southeast Asia and the Philippines can sit there,” he said.

From the Great British Festival’s recent success to the upcoming launch of the UK’s Development Developing Countries Trading Scheme (DCTS), more trade opportunities and benefits await both countries.  Nelson also supports the continuing efforts of President Marcos Jr.’s administration that further open the Philippine economy. To keep the momentum forward, the British Chamber also looks forward to President Marcos Jr. and his wife attending the coronation of King Charles III on the 6th of May, which also signifies the 77 diplomatic years between the two countries.