The Philippines and the United Kingdom are deepening economic ties, with up to GBP5 billion in UK-backed financing available for eligible Philippine infrastructure projects.
The commitment followed the second Philippines-UK Joint Economic and Trade Committee (JETCO) meeting in Manila on Sept. 22, where both sides endorsed a refreshed economic cooperation program covering infrastructure, energy, agriculture, trade and digitalization.
A financing framework enabling UK Export Finance (UKEF) support for priority Philippine government projects is set to be signed on Sept. 23.
“UKEF currently has up to GBP5 billion of capacity available for eligible projects in the Philippines,” the countries said in a joint statement.
The new work program will run for the next 12 to 18 months, with sector working groups bringing together government and private-sector partners.
Energy cooperation will include offshore wind regulation, port development and potential collaboration on civil nuclear energy, including radioactive waste management. The two countries will also explore smart grids and microgrids.
In agriculture, Manila and London will pursue greater market access for key farm exports while expanding cooperation in aquaculture, biotechnology, animal and plant health, and climate-resilient farming.
The countries also cited progress on technical assistance for feasibility studies and policy frameworks under their Growth and Investment Partnerships Framework.
The UK ranked as the Philippines’ 23rd-largest trading partner in 2025, with two-way goods trade reaching USD1.1 billion. Philippine exports totaled USD537 million, while imports stood at USD613 million.
Both sides will also explore cooperation in space and trade digitalization.
