THE Philippines and the United Kingdom (UK) convened the third installment of their economic dialogue led by Ambassador Laure Beaufils and Trade Undersecretary Ceferino Rodolfo.
The virtual dialogue on February 9 witnessed the shared commitment of both countries to build back better from the pandemic and pursue mutual prosperity in key areas covering economic reform, green infrastructure, human development and digital economy, as well as to deepen cooperation in priority sectors such as manufacturing and innovation.
Further recognizing shared efforts toward boosting bilateral trade and investments, both sides agreed to continue coordination on trade policy, regional trade interests and multilateral engagement, in addition to a regular dialogue on market-access issues and investment opportunities.
With more than 75 years of diplomatic relations between the Philippines and the UK, the third economic dialogue was the first manifestation of the new Enhanced Partnership agreed by Secretary of Foreign Affairs Teodoro L. Locsin Jr. and UK’s Secretary Liz Truss in November 2021. Rodolfo remarked: “The UK is [our] key trade, investment, and cooperation partner…Given the importance of international collaboration, especially in global-health response and economic-recovery efforts in view of the pandemic, we [cite] the complementarities…both our countries can capitalize on toward this end.”
Beaufils also underscored her country’s commitment to deepen inclusive and sustainable economic-development ties with the Philippines, while exploring ways for regional opportunities in light of the UK’s conferment as Asean dialogue partner, as well as the Philippines’s role as Asean Economic Coordinator for the former.
The envoy stated: “The Philippines is a very important and valued partner for us. We are committed to pursuing deeper collaboration with [it] and enabling great integration in the Asean region. We will do this in areas of common interest, and deliver tangible results to the benefits of both of our countries and their citizens.”
Both countries reaffirmed the outcomes of the third economic dialogue through a Joint Partnership Statement that highlights their commitment to continue working with each other to promote mutual development of the Philippines and the UK in various areas and sectors toward post-pandemic economic recovery.
According to the British Embassy in Manila, these include support for key economic reforms that enable strong bilateral and regional linkages, capacity building, and sharing of expertise and best practices between both countries, aligned with the United Nations Sustainable Development Goals and the Philippine Development Plan.
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