MANILA, Philippines - The Department of Trade and Industry (DTI) is in talks with the Social Security System (SSS) and the Philippine National Bank (PNB) to use the PhilTrade Property as a permanent venue for exporters to showcase their world class products.
According to Undersecretary for Trade and Investment Promotion Cristino Panlilio, the DTI intends to revive the PhilTrade as a permanent venue for exporters to showcase their world-class products.
Panlilio said talks are ongoing with the owners of the property.
Once re-established, PhilTrade Center would be a permanent exhibition center open year-round for buyers of products such as garments, housewares, furniture, Christmas decors and others.
This will also serve as a venue for micro, small and medium enterprises (MSMEs) to exhibit their goods, as well as to facilitate the buyers in finding local products.
The DTI is also reorganizing the Foreign Trade Service Corps (FTSC), its trade and investments promotion arm, which would focus on specific markets by geographic location such as Europe, North America, India, Pakistan, Sri Lanka, Nepal and others, Panlilio said.
Each market, Panlilio said, would be served by a team of experts in the area of export, importation, investments, commercial intelligence and data gathering.
The reorganization would start this month and is intended to make the FTSC more efficient and deliver results.
DTI is regularly consulting with export groups to seek their suggestions on how the government can improve the department’s programs and services.
Panlilio said one of the current initiatives of the DTI is the establishment of Shared Services Facilities in various regions in the country.
The project, which is under the Regional Operations Group, would provide MSMEs affordable ways to package their products, and eventually turn these enterprises into world-class exporters.
On investment promotions, Panlilio said that good governance under the Aquino administration is encouraging investors to put up their businesses in the Philippines.
One of DTI’s priority sectors is the revival of the garments industry.
DTI is hoping for the passage of the Save our Industries Act which would provide preferential duty treatment to some Philippine-made garments exported to the US.
The rise in the labor costs and the lack of skilled workers in China is causing buyers to look for alternative investments destination for apparel makers.
Revival of the local garments industry could create 200,000 jobs and generate export receipts of $ 3 billion.