Philippines: exporters urged to target Asian markets

• Feb 25, 2019

FILIPINO exporters should trade more of their goods in regional markets as the Asian economy is expected to grow stronger, according to the Research, Education and Institutional Development Foundation Inc. (REID).

In a recent report by the Philippine Exporters Confederation Inc., REID Vice President Ronilo Balbieran said that in terms of growth and size, the country had more places to sell its products to, noting that China, India and the Association of Southeast Asian Nations (Asean) 5 were expected to stir the global economy.

Asean 5 is composed of Malaysia, Indonesia, the Philippines, Singapore and Thailand.

“We have the economics, we have the population. They (regional markets) have the population. We can sell more to them,” he added.
According to him, selling should not be a problem if exporters targeted the right markets with the right products.

The economics of networks and technology is important in boosting international trade, as it could help promote and market goods, he said.

The report comes after the Philippine Statistics Authority released on February 12 data showing that merchandise exports dipped by 1.78 percent to $67.49 billion in 2018 from $68.71 billion the year before.

Trade Secretary Ramon Lopez blamed this decrease on lower global demand caused by the global economic slowdown and concerns over the ongoing trade tensions between the United States and China.

Source: https://www.manilatimes.net/ph-exporters-urged-to-target-asian-markets/516764/