Exporters Expo intends to dispose inventories

CEBU, Philippines - The local Exporters Expo slated on August 27 in SM City Cebu is expected to provide a “breathing” space for bleeding exporters whose inventories are stored in their manufacturing plants.

Department of Trade and Industry (DTI-7) regional director Asteria Caberte yesterday said in a press conference that the growing interest from the local market to purchase export-quality goods such as furniture, fashion accessories and marine products, will definitely help exporters dispose their stored products and prepare for new orders coming from abroad.

The Exporters Expo, which will run for four days at the SM City Cebu Atrium, will showcase export-quality products pegged at slashed down prices allowing local consumers to avail of these products at “pocket-friendly” prices.

About 70 exporters will be joining the four-day exposition that will start on August 27 to 30, “this is just to stop the bleeding, our way of helping the exporters go through this difficult time.”

Domestic market has been considered as the “savior” consumers for exporters while the world market is at its worst, Caberte said

“Exporters never thought of domestic market as potential market before. But domestic spending pattern is robust and dynamic,” Caberte said emphasizing that local market’s interest in purchasing export-quality products have been increasing.

DTI is spending about P1.3 million in this particular event, to subsidize part of exporters’ expenses in the four-day expo. A participating exporter only spends about P500 a day, she said.

On the other hand, a furniture exporter said that while it is good for the government to help the ailing exporters in disposing inventories, what the industry is needing right now, is a permanent showroom for both local and foreign markets.

The exporter who owns a big furniture plant, said that sometimes holding a temporary exposition is costly for exporters, especially if the sales turnout is not encouraging.

He hopes that if government will spend money, it will provide permanent benefits to the exporters.

For her part, Caberte said the Exporters Expo was organized just to dispose the remaining inventories of exporters, while recovery is already starting to be felt.

“This is just to stop the bleeding. Hopefully, this will be the last Exporters Expo, as the government is also planning to build a permanent showroom for exporters in Cebu,” Caberte said.

Latest government figures showed that the furniture export industry suffered the steepest decline in revenues of US $51.21 million last April although it managed to keep its rank as the country’s fifth largest export.

Cebu, the furniture export capital of the Philippines accounting for about 60 percent of monthly exports, is feeling the brunt of the global financial crisis with foreign orders steadily declining.

According to Caberte the government through DTI has to help the exporters in different ways in order to survive, organizing the “Exporters Expo” is just one of the efforts being implemented by the government.