DTI to identify priority export markets

MANILA, Philippines - The Department of Trade and Industry’s global marketing and intelligence teams (GMITs) have started identifying priority markets abroad and sectors in an effort to boost the country’s export and investments.

The GMITs were created to run the Global Marketing and Intelligence System (GMIS) which would allow the DTI to take better advantage of emerging Philippine trade and investment leads and opportunities.

“We have identified markets which we think will give us more exports and investments. Right now, East Asia, Japan, Korea and Taiwan really offer the biggest opportunity. And of course, China. While America and Europe (markets) are flat, we are really pushing for East Asia and Asean,” said Glenn G. Peñaranda, DTI’s Foreign Trade Service Corps assistant secretary.

Peñaranda said the Middle East market is also showing a lot of promise.

According to the proposed trade and investment promotion plan, food is among the priorities for promotion particularly in seven identified markets.

These are Americas, East Asia, China, ASEAN (Association of Southeast Asian Nations and ANZ Australia, New Zealand and territories in the Pacific), Middle East and Africa, Europe and South Asia (India).

“Food is a priority for everyone. It ensures that we have enough food and is also actually a sector that generates a lot of jobs including those in the countryside which is part of the inclusive growth strategy,” Peñaranda explained.

Design-driven products like furniture, home and fashion; and automotive parts have been initially selected for trade promotion in five areas.

Other priority export products and services include non-food coconut, garments, construction materials and services, information technology enabled services, electronics, mining and tourism. 

On the other hand, priority sectors for investment promotion include tourism, PPP (public-private partnership), mining, investment funds, agribusiness, garments, IT-enabled services, automotive parts, electronics, manufacturing: non-electronics, shipbuilding and logistics.  

“One of the inputs of the teams is the trade and investment promotion plan. We have prepared the document already; it is an evolving document. Based on the first round, there are 92 projects we are looking at. These are consistent with the priority sectors that we have identified. For example, we have identified halal foods,” Peñaranda said.

He expressed optimism that with GMIS, the Philippines can be more efficient in its exports and promotions work.

FTSC represents DTI overseas and takes ascendancy as the preferred agency in trade and investment promotion abroad.

“The (GMIS) structure is market-focused but within that market, we have to be sector-focused,” he explained. “We hope that the impact of whatever we do will be more substantial particularly for the benefit of the stakeholders.”

Peñaranda said GMITs will work with the stakeholders, including the exporters, on the implementation of priority projects.

He pointed out that the GMIS implemented last year’s restructuring of the department.

“For the first time, we have put all agencies involved in export and investment promotion under one group. This is a reaction of the department in keeping up with the times, there is now so much competition – we have to be very efficient in managing and servicing the opportunities,” Peñaranda said.

According to guidelines and references, the GMIS/GMITs aim to be inclusive and will collaborate with other agencies to promote the country on a one-country team approach.