Once you start [providing]connectivity, naturally that will attract investments,” Dominguez was quoted as saying during their meeting. In response, Fox told Dominguez that the Philippines could look into UK’s £4.5-billion export-import facility to help source funds for the Duterte Administration’s unprecedented public investment program. The UK government had doubled the UKEF’s capacity to support trade with the Philippines to £4.5 billion from £2.25 billion. Fox said the UK is “keen on establishing its footprint” in the Philippines’ services sector and in exporting its education technologies. Total Philippine exports to the UK in 2016 were valued at $476 million, while imports from the UK reached $480 million in the period.

Source: Manila Times April 23, 2017 16:30 UTC