The United Kingdom and the Philippines have finalised a government-to-government partnership to strengthen bilateral trade cooperation on infrastructure. The agreement, signed on 23 September by UK Trade Minister Lord Sarwar and Philippine Finance Secretary Federick Go, marks a significant step in the two countries' long-term economic cooperation. It means priority Philippine government infrastructure projects can be considered for support from UK Export Finance, the UK's export credit agency, which currently has up to £5 billion of capacity available for eligible projects in the Philippines.
The partnership is designed to widen opportunities for the Philippines to draw on competitive UK-backed finance and utilise British expertise, goods and services, driving growth for both countries. It will help connect the Philippines with UK expertise in sectors including transport, clean energy, healthcare, water, digital infrastructure and advanced technology. It also puts the UK government's recently published Government-to-Government Strategy into action by creating a route for cooperation on project development, financing and delivery.
"Delivering on our recently published G2G Strategy, this partnership shows the UK building modern trade relationships that will deliver tangible economic benefits – jobs and growth – both at home and abroad."
"This G2G is a route for the Philippines to access UK expertise, goods, services and financing; and for British businesses to partner with the Philippines and participate in future projects."
"This partnership reflects the strength of the UK-Philippines relationship and our shared ambition to deliver high-quality, sustainable infrastructure."
"It will create new opportunities for the Philippines to access world-class UK infrastructure. I look forward seeing the innovation and growth this will deliver for both our countries."
