Showcase event for SMEs generates $64M in sales

The recently concluded Manila FAME International, the Philippines’ leading showcase event for small and medium enterprises (SMEs) in the home furnishings, gifts, holiday décor and fashion accessories, generated $64.32 million in total sales last April 18-21, a clear indication of buyer confidence in the country’s export sector.

Over 3, 400 foreign and local buyers attended the April show. Total booked orders amounted to $27.7 million and total negotiated sales reached $36.6 million.

Top three buyers who have booked their orders were from Europe with orders amounting to $12.8 million.

This was followed by buyers from Asia with orders amounting to $5.2 million, and the United States, $4.8 million.

According to Trade and Industry Secretary Juan B. Santos, "Manila FAME results show that both our traditional and new buyers continue to view the Philippines as a source of design and quality export products and that our efforts to create a niche and innovate are paying off."

Manila FAME, according to Santos, has come to be an enabling platform to promote the SME sector, expand their markets and establish mutually beneficial partnership or collaborative arrangements with local and foreign buyers.

Over 500 exhibitors joined Manila FAME this year with 23 other foreign exhibitors including those sponsored by the ASEAN Japan Center.

"While we recognize tough competition with China, Manila FAME has contributed tremendously in positioning the Philippines as a prime source of design ideas complemented by efficient manufacturing and competitive pricing," Santos added.

About 60 percent of the country’s exporters are SMEs and Manila FAME exhibitors employ 94,000 direct and indirect workers. An estimated P60.3 million from tourism receipts are pumped into the local economy by foreign buyers from hotel, food and entertainment and retail.

The trade chief likewise noted that trade promotion through Manila FAME is a means to help realize the government’s $47-billion export growth target for 2005.

"Although some SMEs find the going tough, Manila FAME is evidence of resurging business activities for our SME exporters. Also, the best news is the high level of new orders that are coming in, indicating customer confidence in our product offerings," Santos said.