The Philippines was recently welcomed as the country coordinator for the Association of Southeast Asian (Asean)-United Kingdom (UK) economic relations, the Department of Trade and Industry (DTI) announced.
In a news statement issued on Wednesday, the DTI shared that Manila, represented by Trade Assistant Secretary Allan B. Gepty, recently met with other Asean senior economic officials and UK trade representatives for the first dialogue partner consultations earlier this month.
The UK is the newest dialogue partner of the Asean bloc. The European country was represented by UK Trade Commissioner Sam Myers and UK Ambassador to Asean Jon Lambe during the said meeting.
The new partnership aims to further strengthen the trade and investment relations between the Asean member-states and the UK, in addition to supporting economic recovery initiatives amid the pandemic.
“Having been granted the Dialogue Partner status, the UK and Asean will have more regular engagement to discuss the implementation of economic cooperation initiatives,” the Trade department noted.
Gepty said that the Philippines, along with the regional bloc, is looking forward to boosting economic cooperation on digital innovation and financial services with the UK.
Asean businesses, especially micro, small and medium enterprises (MSMEs), have been pivoting to digital platforms amid mobility restrictions, DTI said.
“The Philippines appreciates the UK’s support to Asean in the areas of digital innovation and financial services as these initiatives will significantly advance the region’s digitalization agenda,” he added.
Meanwhile, the Asean economic officials welcomed the developments in several UK-funded programs, including in the areas of economic recovery, digital innovation, supply chain resilience, financial services and sustainable growth.
The trade officials will meet formally next month.
As such, they discussed possible priorities and principles that will set the direction of the Asean-UK ties. The Philippines cited MSME development, public-private sector partnership, and technical and vocational training, among others.