DTI submits export dev’t plan to P-Noy

MANILA, Philippines - The proposed Philippine Export Development Plan (PEDP), which sets targets and strategies to grow exports for 2014 to 2016, has been submitted to President Aquino for approval.

“The Department of Trade and Industry and Export Development Council have approved the PEDP and submitted the plan to the President for his approval,” Trade Undersecretary Ponciano Manalo Jr. said during the National Exporters Congress 2014 held yesterday.

The proposed PEDP has set a growth target of eight to 9.3 percent for total exports this year from last year’s $78.5 billion.

For 2015, the plan has set a nine to 10.1 percent goal for total exports growth, while total exports are targeted to grow by 10.1 to 11 percent in 2016.

Merchandise goods account for the bulk or 70 percent of the country’s total exports, while the remaining 30 percent is held by services which cover information technology – business process management and tourism sectors.

The PEDP is banking on the performance of electronic products as well as the services sector to drive the country’s total export growth.

For this year, Manalo said total exports are expected to grow beyond eight percent despite the congestion at Manila’s ports, given the positive performance of electronic products, other merchandise goods and as well as services exports.

As of end-September, the country’s merchandise exports posted  a 9.9-percent increase to $46.596 billion this year from $42.386 billion in the same period in 2013.

Revenues from outbound shipments of electronic products, the country’s top merchandise export, amounted to $18.726 billion in the January to September period of this year, up 6.2 percent compared to $17.634 billion last year.

Meanwhile, services exports as of the first-half of this year have reached 48 percent of the $21.8-billion total value in 2013.

The PEDP also has recommendations to support the growth of exports covering promotion and marketing activities, trade facilitation measures, as well as improved access to finance.

Aside from promoting the competitiveness of exporters and growth of exports, the PEDP is likewise seen to help the country achieve inclusive growth through the creation of jobs.

Manalo said the PEDP has set a target for the exports sector to generate two million jobs by 2016.