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The British Chamber of Commerce Philippines (BCCP) recognized the Philippine government’s efforts in managing inflation, marking a 6-year low at 1.3% in May 2025.
Cognizant of the recent Iran-Israel conflict and the looming US reciprocal tariffs, the Chamber remains cautious on the impact on oil prices that could affect transport and agricultural sectors, among others.
BCCP Executive Chairman Chris Nelson also noted the chamber’s role in managing food inflation remained at 0.7% in May 2025 in comparison to the 6.1% in the same period of 2024.
Nelson said that, “This has been principally driven by food inflation, and we have played our part there, particularly in helping get pork supply from the UK. Oil is a continuing risk. If you look across other areas, all the central banks would be looking to manage and further reduce interest rates.”
Nelson also recognized the announced ceasefire between Iran and Israel, an important halt to stabilize oil prices and manage supply, following the uncertainty behind the US 90-day pause on reciprocal tariffs.
He emphasized that this should be seen as an opportunity rather than a threat, as this can leverage the Philippines position as a growing market in the region while establishing more partnerships through trade, economy, maritime and diplomatic areas.
Nelson particularly mentioned the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the recent inaugural Joint Economic and Trade Committee (JETCO) meeting.
The forum will present economic outlook, overall UK-Philippine trade, the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, and investment opportunities in the semiconductor, IT & Business Process Outsourcing and quantum technology.
“UK companies are looking at opportunities in Southeast Asia and in ways where they can do possible trade investment. In that context, we have to keep moving forward on liberalizing the economy. The upcoming PEZA investment mission to the UK is a great opportunity for companies to explore the Philippine market,” Nelson said.
The British Chamber is now in London with the Philippine Economic Zone Authority (PEZA), HSBC, and Asian Consulting Group (ACG) to participate in the Philippine-British Investment Forum on 27 June 2025 at the HSBC Office in Canary Wharf.
The delegation also visited the UK Department for Business and Trade that serves as a testament to the growing bilateral relations between the two countries, celebrating its 80th diplomatic ties in 2026.
