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Philippines: DTI vows to strengthen export promotion
MANILA, Philippines — The Department of Trade and Industry (DTI) vows to strengthen export promotion efforts by enabling micro, small and medium enterprises (MSMEs) to develop world-class products and implement other initiatives to showcase locally made products to the global market.
In a statement, the DTI said its export promotion arm – the Center for International Trade Expositions and Missions recently hosted an event focused on initiatives to market the country’s exports.
During the event attended by President Marcos, the country’s trade diplomatic partners, as well as public and private sector partners, Trade Secretary Alfredo Pascual said the agency would nurture MSMEs to develop world-class products and give them a spotlight in the international market as part of efforts to promote the country’s exports.
He said the DTI would provide the necessary assistance to enterprises to help them improve the quality of their products to enable them to compete in the global market.
The DTI hopes to transform the Philippine export sector, which would involve pursuing industry development, by addressing constraints to both scale and scope of production.
Efforts to transform the sector also means adding value to the country’s exports and making these more sustainable and reliable.
“Industry development requires a shift in our mindset, from simply promoting existing profitable products and services to promoting and highlighting our capabilities. Industry development is the best way to deliver exporting breakthroughs. We will need to act faster to gain a bigger share of the opportunities in the global market,” Pascual said.
Aside from helping MSMEs come up with products that can compete in the global market, the DTI said the CITEM is set to hold other trade initiatives to promote the country’s exports in the global market.
Among these initiatives are FAME+ for the digital sourcing of Philippine home, fashion and lifestyle products, and IFEXConnect for the online sourcing of unique food and ingredients.
The DTI will showcase the country’s creative industries through the CREATEPhilippines trade event, as well as the country’s sustainable products and services through the Sustainability Solutions Exchange.
Also part of the initiatives for this year is the conduct of Manila FAME, the country’s premier trade event for design, home furniture and decor, as well as fashion products.
Pascual said the DTI would leverage existing structure and networks to widen the market reach of Filipino products.
Latest data from the Philippine Statistics Authority showed the country’s merchandise exports were valued at $78.84 billion last year, 5.6 percent higher than the $74.65 billion in 2021.
Source: https://www.philstar.com/business/2023/03/07/2249740/dti-vows-strengthen-export-promotion