Exporters aim to develop trade penetration in China

CEBU, Philippines - Cebuano exporters are set to meet with the Chinese delegation headed by officials of Business One Global Trade Center, in the sector’s bid to sustain growth amid the struggles of weakening markets in the United States and European zone.

PhilExport-Cebu executive director Fred Escalona announced that a conference dubbed “Penetrating the Chinese Market” will be held together with the members of the delegation, to know more about the Chinese market, and how local exporters will be able to strongly penetrate the over a billion population only China.

The conference set on February 8 at the Waterfront Cebu City Hotel and Casino from nine o’clock in the morning to 12 noon, is expected to pave the way for exporters in Cebu to sustain and ultimately thrive while the two giant markets’ recovery is still at large.

Already, exporters have been encouraged and urged to re-focus in penetrating the emerging Asian market, in order to survive.

In an earlier interview with PhilExport president and chief executive officer (CEO) Sergio Ortiz-Luiz Jr., he said that the Philippines is growing its business within the Asian market, and this may offset the decline of orders coming from United States and Europe.

Ortiz-Luiz said that the Philippine exports now will be banking its lifespan on the Asian market.

In a report released by PhilExport, it encouraged exporters to intensify its entry to populous market, and develop relationship with emerging markets in Asia, and ASEAN countries, taking advantage specifically of the Philippine’s FTA with ASEAN member nations.

FTAs had been conducted by the Philippines with Australia, New Zealand, ASEAN, Japan and China, which made Philippine products more competitive in these countries.

In the report, China, is considered as one of those markets that exporters should a lot of research, although the potential is good.

Latest report from the United national Economic and Social Commission (ESCAP) revealed that the 12 economies in the Asia Pacific region, China and India account for more than 90 percent of the total regional demand for imports.

Other major Asia Pacific importers include; Japan, Republic of Korea, Singapore, Russian Federation, Australia, Thailand, Malaysia, Indonesia, Hong Kong, and China.

According to Escalona, exporters are hoping to improve its intra-regional trade with the Asian countries, and linking with the Chinese delegation, is an important jumpstart to fully penetrate the huge Chinese market.  (FREEMAN)