Exporters set revenue target for goods at $92B
Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation
MANILA, Philippines—Local exporters will aggressively pursue advocacies and programs in the years ahead, as they expect export revenues from merchandise and services to reach $92 billion and $28 billion, respectively, by 2016.
According to Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation (Philexport), the share of the services sector is expected to improve to 23 percent by 2016, while the share of merchandise goods to total exports will slightly be lower at 77 percent.
This year, the goods sector may reach $75.59 billion, accounting for 78 percent of total exports, he said.
But Philippine industry would need to go beyond the current survival mode if it were to sustain the 35 percent share of exports to the country’s GDP, Ortiz-Luis said in a speech during the general membership meeting of the Philippine Chamber of Commerce and Industry yesterday.
“What can make a big sustainable difference are reforms that will address perennial and some even deeply rooted problems,” he stressed.
He cited the list of exporters’ reform agenda with legislative measures.
“The major and urgent ones include the approval of the Customs Modernization and Tariff Act; Competition Policy; amendment in the Charters of the Philippine Ports Authority and the Bangko Sentral ng Pilipinas; and the amendment in the IRR (implementing rules and regulations) of the Magna Carta for micro, small and medium enterprises,” Ortiz-Luis said.
“Executive action and political will is required to lower the cost of shipping, power and some export fees, as well as address unclear policies and governance issues in certain government agencies. Tax policies have to be more simple and business-friendly. Labor productivity also needs to improve by facilitating technology acquisition and capacity building. Infrastructure, logistics and disaster and risk reduction and management programs have to be in place as part of efforts toward production and supply chain efficiency,” Ortiz-Luis added.
He also scored the country’s export promotion funds, which he said was “sorely inadequate” but crucial in meeting the country’s 2016 export targets.
