The UK and the Philippines held their second Joint Economic and Trade Committee meeting in Metro Manila on Tuesday 22 September 2026, according to a joint statement published that day. The meeting was led by UK trade minister Anas Sarwar and Philippine trade undersecretary Allan B. Gepty, who endorsed a refreshed programme of work to be delivered over the next 12-18 months through sector working groups and government and private-sector partners.

The statement said the two sides would continue agricultural collaboration and formalise a Memorandum of Understanding on agriculture trade and cooperation, and would scope cooperation in civil nuclear energy, including radioactive waste management. They recognised work to finalise a Financing Framework, due to be signed on 23 September 2026, which would allow UK Export Finance support to be considered for priority Philippine infrastructure projects. The statement put UKEF's available capacity at up to £5 billion for eligible projects. It also noted a 2025 utilisation rate of 68% under the UK Developing Countries Trading Scheme.

Total UK-Philippines trade in goods and services was £3.1 billion in the four quarters to the end of Q1 2026, comprising £1.3 billion in UK exports and £1.8 billion in imports, the statement said. It described the programme as dynamic and open to updating as priorities evolve.