The enterprises and firms in the United Kingdom are keen on the Philippines as an exciting market to boost reciprocal investment.

This bright outlook of the UK; as it sets its sights on Southeast Asia as a priority growth area, is due to the dim prospects in Western economies.

The UK aims to step up trade with growing markets to counter pessimism over economic numbers here and in the Euro zone.

This year, British firms tap the Philippines’ robust economy and invest in major infrastructure, health care and retail-related projects.

The Philippines enjoy the confidence of the UK business community, which regards the Asian country as among the world’s booming markets and is expected to retain in the second semester the 6.1-percent growth rate it posted in the first half of the year.

International credit ratings agencies Moody’s Investors Service, Fitch Ratings, and Standard and Poor’s upgraded the country’s rating to a notch just below investment grade, citing the Philippines’ steady growth pace.

The UK has sent trade missions to the Philippines to touch base with the government and business sector and discuss possible partnerships in social infrastructure and transport.

The UK plans to establish greater two-way trade with the Philippines and its regions; with Cebu and Davao among the list of the UK’s future major trade and investment destinations in the country.

The economic radiance in the Philippines is also mirrored across Asia.

A bright spot for economically-troubled Eurozone and the slow recovering United States, the ASEAN is important as a collectively huge economy; comparable in size to China and Japan and bigger than India, of which many of the ASEAN countries have good strong positive relationships with the United Kingdom.


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