Philippines, UK hold first JETCO meeting in London

On Monday, March 17, 2025, the Philippines and the United Kingdom held their first Joint Economic and Trade Committee (JETCO) meeting in London.

The Department of Trade and Industry (DTI) aims for JETCO to cover infrastructure, energy, agriculture, trade promotion, and investment promotion, with a focus on boosting bilateral trade currently worth GBP2.8 billion annually.

UK Minister for Trade Policy and Economic Security Douglas Alexander highlighted the potential for British businesses in the Philippines' growing economy and second largest population in Southeast Asia, presenting opportunities for closer collaboration.

The UK aims to extend its financial facility through the Financing Framework Partnership by unlocking up to GBP5 billion from UK Export Finance (UKEF) for key infrastructure projects in the Philippines.

British Chamber of Commerce Philippines Executive Chairman Chris Nelson emphasized the importance of JETCO's focus on infrastructure and development projects, agriculture, and tariff schemes for Philippine products entering the UK market.