Philippines: Philexport upbeat on $130-B export target in 5 years
THE Philippine Exporters Confederation Inc. (Philexport) is optimistic that the country’s export industry can achieve its growth target of nearly $120 billion to $130 billion from exports of goods and services in the next five years.
In a statement, Sergio Ortiz Luis Jr., Philexport president and Export Development Council (EDC) chairman underscored Philexport’s thrust to transform the country from an exporter of commodities and intermediate goods to an exporter of high value products and services, under the Philippine Development Plan 2023-2028, which determines the feasibility of export targets and increasing the sector’s competitiveness over the next five years.
“The next Philippine Export Development Plan is more aggressive, highlighting technology and stronger collaborations towards innovation, skills upgrading, and integration to help counter the negative impacts of issues such as red tape, supply chain disruptions, increasing business costs, climate change, and other challenges,” Ortiz said.
Total exports grew to more than $74 billion in 2021 from $65 billion in 2020, accounting for almost 40 percent of the country’s total trade. Among the Philippines’ top export markets include US, China, Japan, Hong Kong, and Singapore.
Every first week of December is declared Exporters’ Week per Presidential Proclamation 931, Series of 1996. The government and the private sector commit to working together continuously to sustain export promotion and development.
The Department of Trade and Industry (DTI) through the Export Marketing Bureau (EMB), the EDC and Philexport is set to resume the onsite conduct of the National Exporters’ Week (NEW) activities on Dec. 1 to 7, 2022.
In 2021, the NEW focused on global trends, export empowerment, and recovery through innovation, digital transformation, and new technology.
This year, the DTI said that the NEW focuses on discussions and activities that will pave the way towards “Exporting Breakthroughs” for Philippine-based exporters and the Philippines as an exporting nation.
“It emphasizes the need to harness the experience, expertise, and knowledge of both public and private stakeholders in international trade and the need to build on our competitive advantage by pursuing innovation and diversification and cultivating a competitive mindset among all stakeholders” the DTI said in a statement.
Trade Promotions Group Assistant Secretary Glenn Peñaranda explained that the discussions and activities during 2022 NEW aim to capacitate Philippine exporters, particularly micro, small, and medium enterprises (MSMEs), as they go through their exporting journey from developing their products and services, creating their marketing and promotion strategies, and delivering to their customers.
“We urge all our exporters to grab this opportunity to listen, learn, and participate in the diverse export-related topics and export marketing activities that will happen this 1st week of December. To be globally competitive, we must actively engage, learn and seek opportunities for continuous development,” Peñaranda said.
As part of the 2022 NEW activities, DTI-EMB also collaborated with the International Trade Centre and European Union (EU) Delegation to the Philippines for the ARISE Plus Philippines’ The Green Transition: Opportunities and Challenges for Micro, Small and Medium-sized Enterprises in the Philippines.
It will bring together international and national experts and practitioners to create awareness of the new agenda for sustainable growth of the EU, also called the “Green Deal,” and to discuss the related opportunities and challenges for Philippine exporters and MSMEs in accessing the EU market.