2 months ago
19
THE British Chamber of Commerce of the Philippines (BCCP) underscores the importance of food security and trade as key factors in managing inflation to reinforce the Philippines' economic resilience.
Amid fluctuating global food prices and domestic production challenges, the UK's role in supplying essential agricultural products, particularly pork, beef and poultry have grown significantly; thereby aiding further stabilization of food costs and supplementing local supply shortages.
DISCUSSING PH-UK TRADE TIES British Chamber of Commerce of the Philippines (BCCP) Executive Director/Trustee Chris Nelson emphasizes the increasing demand for UK meat exports due to supply constraints in the Philippine market, exacerbated by the outbreak of African Swine Fever. IMAGE FROM BCCP
The Philippines continues to face persistent inflationary pressures, particularly in food prices, notwithstanding government efforts to maintain the target range of two to four percent. Importing high-quality, cost-competitive products from the UK has been a strategic move to manage supply gaps while keeping prices stable for Filipino consumers.
Recent policy shifts have also contributed to strengthening UK-Philippines trade relations. The lifting of the temporary ban on live cattle and meat products in October last year has been a crucial step in bolstering agricultural imports as well as the passage of the Anti-Agricultural Economic Sabotage Act to safeguard consumers and importers against smuggling.
Beyond food security, BCCP continues to advocate for broader economic reforms that would enhance the ease of doing business in the Philippines.
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