The British Chamber of Commerce Philippines (BCCP) recognizes the declaration of the State of National Energy Emergency and the recalibration of the Philippines hosting with nearly 650 preparatory meetings shifting to online – as a crucial approach to help address market pressures with the increasing fuel prices brought about by the conflict in the Middle East, with urgent priorities identified such as energy security, food security and migrant workers’ concerns.
In an interview, BCCP Executive Vice Chairman Chris Nelson said that, “What they have got to look at is obviously the impact on food. In that context, we would say that we have been working on the suppliers. We have talked in the past about meat, particularly pork. So in that context, I’m sure the [government] is looking at all options, but we would strongly urge them to increase the Minimum Access Volume to allow supplies to flow freely and help with supply and pricing.”
February inflation accelerated to a 13-month high at 2.4% with the Department of Economy, Planning and Development (DEPDev) forecasting it could reach over 7% should the conflict continue for a longer period. The Philippines also recognized the need to discuss regional connectivity, exploring renewable energy opportunities and managing smuggling risks, supply chain resilience to stabilize food and other essential commodities.
The British Chamber previously supported the extension of lowered tariff rates on pork and other commodities until December 2028 to manage inflationary pressures and ensure a stable supply.
It also actively works with the Department of Agriculture and other concerned agencies in issuing the MAV quota to allow the entry of commodities at a lowered tariff rate. Additionally, it also supported the passage of the Anti-Agricultural Economic Sabotage Act of 2024 to penalize profiteering, smuggling and hoarding that is crucial especially in times of crisis.
Meat & meat preparations remain on the top fifth UK export commodities to the Philippines valued at £31.8 million in the four quarters to the end of Q3 2025.
The Chamber also works closely with the UK Agriculture and Horticulture Development Board (AHDB), with the group identifying the Philippines as the second largest pork export market in Asia, next to China. Under the UK-Philippine Joint Economic and Trade Committee (JETCO), agricultural trade is also forecasted to increase with the creation of a sectoral working group focused on promoting market access and agricultural and food exports.
Nelson further said that, “I think the UK investors fully understand the challenges. It is a very difficult environment, not just for the Philippines, but everywhere. So, I think investors fully understand that. And they appreciate the actions the government has to take, because, obviously, the Philippines is importing 99 percent of its oil requirements. And this is a challenge in many countries. What we have got to look at is how the country can deal, along with the rest of the world, with these economic challenges, but at the same time, obviously, plan ahead for the opportunities.”
He also urged the country to take advantage of its regional and bilateral trade arrangements with its key partners, particularly the Regional Comprehensive Economic Partnership (RCEP), the UK Developing Countries Trading Scheme (DCTS), and has also expressed support to the Philippines interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which currently has three ASEAN Member states including Singapore, Malaysia and Vietnam.
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