UKABC was honoured to host a high-level delegation from the Philippine Government including Secretaries leading the Departments of Finance, Energy and Budget and Management. On this occasion, we were delighted to also be joined by the Special Assistant to the President for Investment and Economic Affairs and the Deputy Governor of Bangko Sentral ng Pilipinas (Philippines Central Bank).

ASEAN is one of the fastest-growing parts of the global economy, with 700 million people, and many nations with strong and resilient economies. There is a real appetite to engage with the UK. As we rightly pivot back to better relations with the EU, we mustn’t lose sight of our need to continually engage with ASEAN…

UK Trade Minister signs trade pact designed to boost trade and investment with Thailand and open the country up to British businesses.

The UK has secured the sixth and final ratification required to trigger our accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) before the end of this year. CPTPP is a free trade area spanning five continents and almost 600 million people once the UK joins. Following Peru’s ratification of our deal to join the bloc, the agreement will now officially...

After five years of negotiations, the UK and 90 other countries have finalised the E-Commerce Joint Initiative at the World Trade Organization (WTO), which will make trade faster, cheaper, fairer and more secure. It will help British businesses, workers and consumers seize the opportunities of global digital trade, which is estimated by the OECD to be worth around £4 trillion and growing.

Joining CPTPP – which will account for 15% of global GDP with the UK included – means over 99% of current UK goods exports to CPTPP members will be eligible for tariff-free trade. Encompassing 500 million consumers in some of the world’s largest current and future economies, the potential for increased trade is huge.

The UK Mission to ASEAN and the ASEAN Secretariat launched the ASEAN-UK Economic Integration Programme (EIP) in Jakarta to foster economic growth in the region.

The UK-ASEAN Business Council (UKABC) extends thanks to all participants for their contributions to the success of the recent UK-ASEAN Business Forum. Held on Tuesday 26th March 2024, the event featured insightful discussions on key topics including digital transformation, infrastructure connectivity, green finance, economic integration, people mobility, and climate change resilience.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership Act receives Royal Assent.