Exporters optimistic on hitting growth goal

MANILA, Philippines — The country’s export industry is optimistic of achieving its five-year growth target as it banks on the aggressiveness of the next Philippine Export Development Plan (PEDP).

Philippine Exporters Confederation, Inc. (Philexport) president Sergio Ortiz Luis Jr. expressed optimism that despite the many challenges, the 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.

“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,” he said.

Ortiz-Luis earlier said they are optimistic on the new PEDP.

“It’s more than just renewing commitment to export development, it’s about being bold and aggressive while recognizing persistent areas for improvements where we must have the determination to solve permanently,” said Ortiz-Luis Jr., who also serves as the vice chairman of the Export Development Council (EDC).

Ortiz-Luis said the new and improved PEDP for the period 2023 to 2028 is in its final stages of completion.

Among the bold and innovative solutions proposed in the draft PEDP include the lifting of  land ownership ceilings for commercial scale agribusiness and establishing a Bureau of Agri-Industrial Cooperatives Development in the Department of Agriculture, according to Philexport.

Also proposed  is the amendment of the charters and regulatory frameworks of the Land Bank of the Philippines, Development Bank of the Philippines and the Small Business Corporation to allow them leeway to fulfill their mandates.

Philexport earlier said  the ratification of the Regional Comprehensive Economic Partnership agreement (RCEP) is also a key recommendation in the plan.

The RCEP is a free trade agreement among the 15 Asia-Pacific nations, including the Philippines, creating the largest trading block representing nearly a third of the world’s gross domestic product.

Philexport said the draft PEDP also highlights private sector opportunities to hone Filipino creative capabilities and build global brands from the unique features and benefits of the Filipino products and services.

Meanwhile, as part of efforts to capacitate the growth of the exports industry, Philexport  has partnered with the Export Marketing Bureau of the Department of Trade and Industry (DTI) and the EDC to hold the National Exporters’ Week (NEW) activities on Dec. 1 to 7.

“The thematic discussions and activities during the 2022 NEW aim to capacitate Philippine exporters, particularly 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,” DTI-Trade Promotions Group Assistant Secretary Glenn Peñaranda said.