Roxas urges exporters to remain competitive

Trade and Industry Secretary Manuel Roxas II is urging local exporters to diversify to remain competitive in light of the sharp fall in demand from major export markets.

"It is imperative for the Philippines to further diversify its basket of export-oriented goods and services, side by side with its development of new markets," Roxas said.

Roxas, who is in Brunei as part of the official delegation of the Philippines in the ASEAN Leaders Summit, said that the country’s exports continue to decline.

He cited the September export figures, which showed that earnings declined by 22 percent to $2.731 billion from $3.502 billion in the same period last year.

"The decline is not surprising given the economic slump, and the Sept. 11 attacks which have further dampened demand in the Philippines’ three main export markets – the United States, Japan and Europe," Roxas stressed.

Roxas said his discussions with his official counterparts in such recent gatherings as the Asia-Pacific Economic Cooperation (APEC) forum, the World Economic Forum’s East Asian Summit, and the state visits to Malaysia and Brunei, have focused on identifying new export items and the development of counter-trade arrangements.

Roxas said that the move to revive the BIMP-EAGA (Brunei, Indonesia, Malaysia, Philippines – East Asia Growth Area) would help strengthen economic and trade activities.

He added that no less than President Arroyo is spearheading the initiative to revive the BIMP-EAGA.

The DTI heard also cited efforts to negotiate market access for Philippine garments to the European Union.

Likewise, Roxas is also optimistic about the Philippines’ attempt to penetrate the Middle East market with exports of Philippine-produced "halal" food.