DTI to pursue ‘strategic initiatives’ to boost exports
MANILA, Philippines—The Department of Trade and Industry has vowed to implement new strategic initiatives in 2012 to help further boost exports and investments in the country.
In a statement, Trade Undersecretary Cristino Panlilio said the DTI would prioritize plans for 2012 to revive the PhilTrade Center as a permanent venue for exporters to showcase their world-class products.
According to Panlilio, talks are currently underway between the DTI and the owners of the property, Social Security System (SSS) and Philippine National Bank (PNB). Once re-established, the PhilTrade Center would be a permanent exhibition center open year-round for buyers of products such as garments, housewares, furniture and Christmas decors, he said.
“This will also serve as a venue for micro, small and medium enterprises (MSMEs) to exhibit their goods, as well as to facilitate the buyers in finding local products,” he added.
Another strategy that is underway, according to Panlilio, is the reorganization of the Foreign Trade Service Corps (FTSC), the DTI’s trade and investments promotion arm abroad. According to Panlilio, this unit will focus on specific markets by geographic location such as Europe, North America and India-Pakistan-Sri Lanka-Nepal.
“Each market will be served by a team of experts in the area of export, importation, investments, commercial intelligence and data gathering. This move, which will start this month, is expected to make the FTSC more efficient and deliver results,” Panlilio said.
Panlilio also disclosed that one of the current initiatives of the DTI is the establishment of Shared Services Facilities in various regions in the country.
“This project, which is under the Regional Operations Group headed by Trade Undersecretary Merly Cruz, aims to provide MSMEs affordable means to package their products and eventually turn these enterprises into world-class exporters,” he said.
Another priority for the DTI is to push for the revival of the local garments industry. The Philippine government is still hoping for the passage of the Save Our Industries Act, which will provide preferential duty treatment to certain Philippine-made garments exported to the US.
According to the DTI, the garments sector is making a comeback as garments manufacturers from China are transferring their operations here.
The rise in the labor costs and the lack of skilled workers in China are now prompting apparel makers to look for an alternative investments destination. The revival of the local garments industry is expected to result in the creation of about 200,000 jobs and export receipts of $3 billion.
