MANILA, Philippines – Philippine exporters are looking to enter new markets to grow revenues by 10 percent in 2015.
According to Philippine Exporters Confederation, Inc., Senen Perlada, executive director of the public-private Export Development Council and director of the Department of Trade and Industry’s (DTI) Export Marketing Bureau, said local exporters are looking for opportunities to expand market share and penetrate new markets.
“Hopefully, we can extend a bit our markets maybe to more of the Gulf Cooperation Council (GCC) Plus (countries). (And) I think maybe Turkey, hopefully a bit of Brazil and Asean (Association of Southeast Asian Nations), the CLMV (Cambodia, Laos, Myanmar, Vietnam) countries,” he said.
The GCC groups Middle Eastern countries United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
Top markets for Philippine exports at present include Japan, US and China.
Apart from bringing its products to new markets, Perlada said the country would also focus on job-creating export industries.
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“We will focus on those products that will contribute to inclusive growth. These include crustacean, mollusks, fresh and processed foods, still electronics and halal organic and natural products,” he said.
Under the Philippine Export Development Plan (PEDP) for 2014 to 2016 submitted by the EDC to President Aquino, total exports are targeted to grow by 8- to 9.3 percent in 2014 from $78.5 billion in 2013.
Earlier, the DTI said exports in 2014 may grow by 10- to 11-percent given the recovery of the electronics sector and growth of services exports.
Perlada said services exports continued to expand at a very strong rate, citing software development services and healthcare information management.
The better exchange rate and the implementation of more measures to address the port congestion problem in Manila, he said, are likewise seen to have supported the growth in exports.
For 2015, the PEDP sees total exports growing by 9 to 10.1 percent, while a growth target range of 10.1- to 11-percent has been set for 2016.
