Calling the Philippines a “key emerging power in East Asia,” British Ambassador Stephen Lillie on Thursday relayed the United Kingdom’s optimism in strengthening bilateral trade with the Philippines as it did in the previous year.
In a statement, Lillie described the Philippines’ 7-percent economic growth as “very impressive, especially as it was accompanied with an even higher increase in bilateral trade between Britain and the Philippines.”
British government figures show that Philippine exports to the UK rose by 18 percent last year, to £493,613 (P34.5 million). UK exports to the Philippines, on the other hand, went up by 11 percent, to £285,666 (P20 million).
“Our trading relationship has always been strong and it is clear from these figures that it has held up well despite the global economic downturn,” added Derek Page, UK Trade and Investment director at the British embassy.
Page noted that the figures on the two countries’ bilateral trade only represent “visible trade,” or that which involves goods.
The British official explained, “Service figures take much longer to compile, but in 2009 total services trade between the UK and the Philippines were worth over £376 million (P26.3 billion), so I am confident that for 2010 total trade between the UK and the Philippines will exceed £1 billion (P70 billion).”
UK supporting govt on PPP
Lillie meanwhile said the UK has thrown in its support for the Aquino administration’s public-private partnership (PPP) initiative.
“The British embassy is actively encouraging more British companies to participate in the bidding of Philippine PPP projects. More bidders mean a more competitive bidding process that would present the Philippine government with a wider range of partnership choices,” Lillie said.
He said his country’s experience shows that PPP can go further than aid transport services.
“It can go into education, water, health care, schools, hospitals and even prisons,” said the British envoy. “The outlook going forward is clearly very positive too, and if the essential underpinnings of stronger infrastructure can be put in place, then the prospects will be very bright indeed.” — With Paterno Esmaquel II/VS, GMA News
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