Second Joint Economic and Trade Committee Meeting Held
On 22nd September 2026, the United Kingdom and the Philippines convened for the second session of the Joint Economic and Trade Committee (JETCO) in Metro Manila. The meeting was presided over by Anas Sarwar, the UK Minister of State for Trade from the Department for Business, Innovation, Science and Trade, alongside Undersecretary Allan B. Gepty from the Philippines’ Department of Trade and Industry.
During this pivotal gathering, both officials endorsed a revitalised programme aimed at enhancing collaboration across several key sectors, including agriculture, energy, infrastructure, and economic development. Discussions also touched upon potential partnerships in modernising power grids, advancing civil nuclear energy, digitising trade processes, and exploring opportunities in the space sector.
This ambitious programme will be executed over the next 12 to 18 months through established sector working groups, engaging relevant government bodies and private sector stakeholders.
Strengthening Agricultural Cooperation
Minister Sarwar and Undersecretary Gepty underscored the strong ties between the Philippines’ Department of Agriculture and the UK’s Department for Environment, Food and Rural Affairs (DEFRA). Their collaboration has focused on critical areas such as precision breeding, combatting antimicrobial resistance, fisheries management, and ensuring food safety. Additionally, they have supported the development of regional guidelines for managing African Swine Fever, which is essential for safeguarding UK pork exports.
Building on these successes, the two representatives agreed to further facilitate market access for essential agricultural exports and to broaden cooperation into aquaculture, biotechnology, animal and plant health, as well as climate-resilient agricultural practices. They expressed their commitment to formalising a Memorandum of Understanding (MOU) on Agriculture Trade and Cooperation, aimed at consolidating all agricultural initiatives under a unified framework.
Energy Cooperation and Future Initiatives
In recognition of the importance of energy collaboration amid ongoing challenges to energy security, Minister Sarwar and Undersecretary Gepty acknowledged the UK’s continued support in developing offshore wind regulations and policies while promoting market opportunities in port development within the Philippines. They also discussed potential cooperative efforts in civil nuclear energy, specifically regarding radioactive waste management. The programme will include initiatives aimed at modernising the power grid, focusing on smart grids and microgrids.
Both parties acknowledged the progress made by the Sector Working Group in finalising the Financing Framework, which is set to be signed on 23rd September 2026. This framework will enable UK Export Finance (UKEF) to consider support for priority infrastructure projects in the Philippines, with UKEF currently having up to £5 billion available for eligible initiatives.
Fostering Economic Development
The discussions also highlighted the completion of significant cooperation activities in areas such as cybersecurity, health technology assessment, regulatory reform, and consumer protection. The launch of initiatives designed to enhance the utilisation of the UK Developing Countries Trading Scheme was welcomed, aiming to improve Philippine exporters’ preparedness for the UK market through trade promotion, business matchmaking, and technical exchanges regarding market access requirements.
Both nations acknowledged the potential to further improve the DCTS utilisation rate, which currently stands at 68% for 2025, and to introduce more flexible rules of origin for garments. They reaffirmed their commitment to ongoing collaboration on health technology assessments and the exchange of economic and financial policies under the UK-ASEAN Economic Integration Programme.
Exploration of Emerging Areas
Minister Sarwar and Undersecretary Gepty agreed to investigate opportunities for collaboration in emerging sectors, notably space and trade digitalisation. They recognised that the programme of work is adaptable and may evolve as new priorities and initiatives emerge. Regular exchanges on multilateral and regional trade matters, including economic security and developments in green sectors, will be facilitated at the Senior Officials’ level.
Trade Relations and Economic Engagements
In the four quarters leading up to the end of Q1 2026, trade in goods and services between the UK and the Philippines amounted to £3.1 billion, with UK exports valued at £1.3 billion and imports at £1.8 billion. As the ASEAN-UK Dialogue Partnership marked its 5th anniversary, both Minister Sarwar and Undersecretary Gepty welcomed the updated Work Plan and the new Joint Ministerial Declaration from the 6th ASEAN Economic Ministers-UK Consultation.
The Philippines expressed its appreciation for the UK’s support regarding its Priority Economic Deliverables for its 2026 ASEAN Chairmanship, particularly in establishing the ASEAN Centre of Excellence for Creative Industries. Additionally, the Philippines congratulated the UK on successfully completing its accession process to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with Canada on 1st September 2026, finalising its membership with all CPTPP parties.
Engagement with the Business Sector
Prior to the JETCO meeting, Minister Sarwar and Undersecretary Gepty participated in a roundtable with business leaders, providing a platform to gather insights directly from the private sector regarding challenges, opportunities, and priorities for enhancing the bilateral trade and investment relationship. They appreciated the valuable contributions from the business community and emphasised the necessity of ongoing government-business dialogue to identify concrete avenues for strengthening economic ties between the United Kingdom and the Philippines.