For further information contact BCCP at info@britcham.org.ph
Gabriella Quimson Vice Chairman Philippine British Business Council(PBBC) and His Excellency Ambassador Locsin arriving the House of Lords.
Joseph Miro Chairman of Philippine British Business Council(PBBC) was also present at a Diplomatic Reception on the Terrace of the House of Lords to hear a speech given by the Rt Hon Lord Howell of Guilford.
PBBC Members from left to right: Former British Ambassador to the Philippines Paul Dimond, David H. Bill, Rowena Romulo, Dr. Gabriella Tuason Quimson, Chairman Joseph Miro, Melissa Dizon, representatives from the UK’s Department for Business and Trade Priya Soni and John Williams, and Alistair M. Fulton, taken at the Philippine Embassy in London during their May 2024 meeting.
As the Philippine-British Business Council (PBBC) moves towards our 30th anniversary, under our new London Chairman Joseph Miro the background for the further development of bilateral trade and direct investment opportunities for both countries has never been stronger. The value of UK exports to the Philippines in the four quarters to the end of Q3 2023 was £1.3 billion (+16%), with imports of £1.7 billion (+22%). Services contributed about 40% of the former. UK outward direct investment to the Philippines in 2021 reached £449 million. In recent years, cases of inward direct investment have also grown.
In 2024, we have welcomed among others as members of the PBBC London Dr Gabriella Tuason Quimson and Mr Stephen Philips. Dr Quimson is a governance and anti-corruption specialist. Her father was Philippine Ambassador to the Court of St James’s in the 1980s. She has long experience in the UK and holds both Filipino and British citizenships, dividing her time between the two countries. Mr Philips was appointed Senior Adviser at BDO Unibank in January 2024, in a long career focused on cross-border trade, investment and finance in Asia. Before his appointment as Chief Executive of the China-Britain Business Council in 2006, he had been International Trade Director of UK Trade and Investment in the British Government.
As a business-led apolitical body, the PBBC works closely with both Governments’ trade and investment Departments, with much non-financial support from the Philippine Embassy in London and the British Embassy and the British Chamber of Commerce of the Philippines in Manila. Individual PBBC members (all volunteers) have cumulative experience of trading conditions and contacts of well over 100 years. Unlike other surviving Business Councils, the PBBC itself has long adopted the policy of focus on those sectors offering the more obvious opportunities. These have included IT, agribusiness, energy and retail and we are currently aligning our focus with sectors identified by both Governments.
We offer a free service of advice in the UK to bona fide companies new to the market and are happy to hear from British firms interested in the Philippine market, whether diversifying from other ASEAN markets or completely new to the region, whether they wish to export products or services, find joint partners in the Philippines or invest there directly for longer-term market share. We are equally happy to hear from Philippine companies seeking partners in the UK or looking for direct investment opportunities.
All contacts should be directed to info@philippinebritish.com
Philippine-British Business Council
London
3 June 2024
Discover what the UK offers in finance to support major projects when buying UK Goods and services.
Clink on the link below to see a presentation of the UK Export Finance Scheme
> > UK export Finance – Competitive finance when you buy from the UK < <
Feb 09
The latest Newsletter ( No. 11) from the Philippines Trade Office in London.
Articles include:
Jan 07
The Makati Business Club has issued a statement on the Philippines’ improved credit outlook and in support of the Aquino administration actions. The statement is:-
MCC Statement on The Philippines improved credit outlook and successful issue of 25 year Global Peso Bonds
The latest revision by Moody’s Investor Service of its credit outlook on Philippine foreign and local currency bonds to positive from stable and the recent successful issuance of 25-year global peso bonds worth an equivalent $1.25 billion are, without doubt, manifestations of the international investment community’s interest and confidence in the country and foreign investors’ sign of faith in the Aquino administration’s economic vision and fiscal program.
The Makati Business Club thus commends the government’s economic managers for these accomplishments, with Moody’s signaling the likelihood of a near-term ratings upgrade and the bond deal continuing the innovative success of last October’s 10-year $1-billion global peso bonds, the first of its kind in Asia.
The credit rater upgraded the country’s credit rating last July to Ba3, “speculative” and “subject to substantial credit risk.”An upgrade would boost the Philippines’ credit score to the Baa level, “subject to moderate credit risk.”
On the other hand, the long-term bonds, which are denominated in pesos but will be paid off in US dollars, are designed, in part, to deal with the issue of hot foreign money flowing into the country and presenting inflationary problems for monetary authorities.
MBC further cites the bond deal’s manifold accomplishments. It took advantage of the favorable market conditions at the start of the year, when rates are relatively lower. MBC further cites the deal’s manifold accomplishments. It took advantage of the favorable market conditions at the start of the year, when rates are relatively lower. the 25 year bond was priced to yield its coupon rate of 6.25 percent , which translates to a 0.23 percent decline from the current domestic 25 year benchmark, even after adjusting for the global bond’s exemption from the local 20 percent withholding tax on interest income.
The global bond issue also helped lengthen the country’s debt maturities, reduce exposure of the domestic economy to foreign exchange fluctuations, and develop the capital market for long-term financing in preparation for the government’s plans to partner with private companies in building 11 priority infrastructure projects that include public roads, ports, and railways.
Moody’s statement, meanwhile, cited the country’s strong external payments position, which had reduced the country’s vulnerability to external shocks, monetary policy successes, and economic policy reforms that were expected to positively affect state finances, investor sentiment, and the economy.
MBC is encouraged by these positive signs that the Aquino administration is on its way towards achieving sustained economic growth, fiscal consolidation, and further development of the domestic capital markets.
Dec 20
Manila FAME International is Asia’s best design destination for home and gift, holiday decors, fashion wearable, apparel, textile, footwear, health & wellness, organic products, and creative industries.
“Asia’s Boutique Show. Discover design concepts created with passion and touch of human hands”.
16 – 19 April 2011
World Trade Center
Manila, Philippines
Dec 20
The Philippine International Furniture Shows (PIFS) are the must-see furniture shows in the ASEAN Furniture circuit. Long considered the Milan of Asia, the Philippine furniture shows have for over thirty years produced outstanding and creative quality furniture and furnishings that are steeped in cultural tradition and diversity.
3 – 6 March 2011
SMX Convention Center
Manila, Philippines
Visit the organisers website for further details
See the video of the 2010 show
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