Implementation of export development plan under discussion

MANILA, Philippines — Amid the continued decline in exports, industry stakeholders are set to meet next week to discuss ways to implement the export development plan to establish the Philippines as a leading exporter of high-value products and services in the next six years, according to the Philippine Exporters Confederation, Inc. (Philexport).

Philexport said this year’s  National Export Congress (NEC) to be held on Dec. 7 in Pasay City would highlight the importance of developing agile exporters who are able to quickly respond and adapt to the fast-changing international trading environment in line with the administration’s Philippine Export Development Plan (PEDP) for 2023 to 2028.

“The National Export Congress (NEC) 2023 aims to put a spotlight on the collective vision of the both the public and private sector for the Philippines export industry, to establish the Philippines as a leading exporter of high-value products and services by 2028 while leveraging our superior knowledge and talent to cater to the diverse needs of global consumers and producers.” the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) said.

The DTI launched the PEDP 2023-2028 in June, which puts export development as a national agenda and focuses on addressing binding constraints to export competitiveness, expanding the country’s export capacities, and seizing growth opportunities in the international market.

The plan targets to grow the country’s merchandise and service exports to $240.5 billion by 2028.

DTI-EMB director Bianca Pearl Sykimte earlier said it would be “difficult” to meet the target this year of $126.8 billion under the PEDP 2023-2028 since the targets were crafted in a situation where there were no geopolitical tensions, inflation, and less favorable recovery of China.

“But we launched it this year. So, the projections did not take into account the slowdown in the international trading environment,” she said.

The $126.8-billion target is 29 percent higher than the $98 billion worth of merchandise and services exports registered in 2022.

Sykimte, however, said  they expect exports to grow by five percent this year, which would translate to around $103 billion. She said that this would be driven mostly by services exports.

The DTI official shared that from January to June, the services exports posted a 22-percent growth, particularly driven by travel services exports which grew from $800 million last year to more than $4 billion.

Latest data from the Philippine Statistics Authority  showed that the country’s export sales totaled $6.73 billion in September, a 6.3-percent decline from the $7.18 billion in the same period last year.

Similarly, year-to-date exports registered at $54.5 billion, a 6.6-percent decline from $58.4 billion in the same period last year.

The NEC is part of the National Exporters Week (NEW) celebration from Dec. 4 to 7 spearheaded by the DTI-EMB, the Export Development Council (EDC), and Philexport.

DTI Secretary and EDC chair Alfredo Pascual and Philexport president Sergio Ortiz-Luis will deliver keynote messages at the NEC’s opening session.