PH wants to do more business with fast-growing Africa

The Department of Trade and Industry (DTI) wants to further explore the African market in a bid to strengthen overseas demand for consumer products made in the Philippines.

DTI Secretary Ramon Lopez told reporters in a recent interview the agency was still studying which specific African countries the government would tap, but he was hoping to actively push for this initiative next year.A handful of companies currently do business with African countries, exporting goods such as processed meat and coconut products, Lopez said. Yet, focus there has been undermined by scarce resources, as the Philippine Trade and Investment Center—which acts as the DTI’s representative office—in the United Arab Emirates is also in charge of Africa.

This has prompted Lopez to consider assigning a commercial attache for Africa alone, which would help the DTI look for business opportunities in the region.“There’s a big potential. We are still looking for markets ‍

to sell to. [If we get this], manufacturers will have more incentive to expand [operations],” Lopez said.Of available data relating to transactions with Africa, Egypt appeared to be the Philippines’ 62nd top trading partner, exporting to this transcontinental country products including tuna, skipjack and bonito, printed circuits as well as desiccated coconuts.

Ethiopia, meanwhile, is the country’s 117th trading partner, with top exports including polymers of ethylene, machine parts and airplane parts, among others.

According to Brookings Institution, a nonprofit public policy organization based in Washington, Africa is one of the fastest-growing consumer markets in the world. INQ